ECONOMY

FC Otkritie to buy stake in Cyprus-registered RBC Bank

Russia’s FC Otkritie Bank is expected to buy a 19.85 percent stake in Cyprus-registered RBC Bank following RBC’s additional share issue, Otkritie said in a statement on Thursday.

Russia’s VTB bank is expected to hold 46.3 percent stake following the deal, VTB added in a separate statement.

[Reuters]