Exec says VTB Bank may raise stake in pension fund Magnit

MOSCOW, Aug 8 (PRIME) -- Russia’s second largest bank VTB does not rule out raising its stake in pension fund Magnit, Dmitry Pyanov, member of VTB’s management board, said on Thursday in a conference call.

The bank bought 80% in the fund from retailer Magnit in February, and the retailer owns the remaining 20% in the fund.

“You may expect further consolidation of the shares of this private pension fund,” Pyanov said.

VTB Bank also owns 17.28% in retailer Magnit.

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