Antimonopoly Service approves TM TRAST application

The Russian Federation Federal Antimonopoly Service approved of TM TRAST’s petition to buy 41% of Khanty-Mansiyskiy Bank’s shares, the Service reports.


Prior to this, the Service approved of the petition placed by Standart, the Saint Petersburg-based investment company, and Roman Kichinov (Assistant to the bank’s President and head of the bank’s press service) then said to RIA Novosti that the Federal Antimonopoly Service’s decision did not mean the shares would be sold directly rather than by auction.


The applications could be placed with the Service after Khanty-Mansiyskiy Autonomous Region’s Duma decided to offer 40% of the bank’s shares formerly owned by the state to some private customers. This shareholding is expected to be put up to auction.


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