PRESS: Globexbank to go under state control before July 2018

MOSCOW, Dec 20 (PRIME) -- Globexbank, a subsidiary of Russia’s state Vnesheconombank (VEB), will be transferred under state control no later than April–June 2018, Kommersant business daily reported on Wednesday citing sources.

According to Kommersant, the idea has been discussed for two months, VEB’s supervisory board has already approved the decision and it is to be signed by Prime Minister Dmitry Medvedev by the end of 2017.

“The bank is under due diligence now, it is not easy, but it will be finished within two weeks,” one of the sources told Kommersant.

VEB CEO Sergei Gorkov said earlier in December that VEB hopes to decide on selling its subsidiaries Globexbank and Sviaz-Bank in 2018.

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