Nothing but negotiation

The Gap Partnership

Vozrozhdenie in business negotiations with various parties

A number of Russian investors are interested in Vozrozhdenie.

22 November 2011

Vozrozhdenie has said a number of Russian lenders are interested in investing in the bank.

Among those who have been picked out are Vladimir Kogan and a series of business negotiations may have to take place to see who is best placed to drive the financial institution forward.

Deputy chairman Alexander Dolgopolov was quoted by Reuters as saying: "The talks are ongoing and not only with [Mr Kogan]. All with whom there have been talks are interested in a controlling stake or [a stake] close to it."

Because of the options open to Vozrozhdenie, it may be able to use negotiation skill to get itself the best deal possible.

The announcement comes after the group released its quarter three statistics, which found net income for the first nine months of 2011 was 1.1 billion Russian Roubles (£22.6 million).

As well as this, operating income for this time period was 7.5 billion Russian Roubles.

Posted by Ron Maverick

Source: Reuters, November 22nd

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