Holding "Otkritie" acquired almost 15% of VTB shares

Bank "FC Otkrytie", which is under control of the Central Bank, unexpectedly increased its stake in VTB.
The two management companies of the bank, Management Consulting and Navigator, acquired 5.7% of the state bank's shares, and the share of FC Otkritie in VTB's capital increased to 14.78%, it follows from a statement of material fact. On Wednesday at the Moscow Stock Exchange such a stake was worth 96.9 billion rubles. (data at 13.30 Moscow time).

What is the reason for the increase in the share is not indicated in the message.

The Otkritie Group does not consider the VTB stake as a strategic investment, a representative of FC Otkritie said in response to Vedomosti's questions. The bank received shares of VTB as a result of transactions concluded by the former management and the owners of the bank, he said. At the same time, the bank received most of the securities from customers on repo transactions. And the increase in the share disclosed on January 17 occurred as a result of the acquisition by the bank of the Management Consulting and Navigator companies, in whose investment portfolios VTB's shareholdings are located for a long period, he explains. The bank has no plans to increase its stake in VTB, he assured. As these companies became the property of the bank, its representative did not inform.

VTB also had indirect investments in FC Otkritie, but it lost them due to the bank's sanitation. VTB owned a 9.9% stake in the "Opening of the Holding", the majority shareholder of FC Otkritie. But at the end of November, the Central Bank announced the write-off of the bank's capital to 1 ruble. and held an additional issue, which he himself fully bought out: as a result, the share of the previous shareholders were diluted.

In September last year, VTB President Andrei Kostin said that in case of writing off the capital of FC Opening, VTB's losses from investing in Otkryt Holding would not exceed 10 billion rubles. At the same time he said that the state bank was ready to consider the purchase of FC Otkritie after its readjustment: "We are always ready to think, but we must understand what the bank can represent after the sanation. There are fears that some assets can go away or people run away "(quoted by TASS).