Russian regulator to decide on VTB"s bid for gold miner Feb. 17
Russia's anti-trust regulator will make a decision February 17 on a bid by the country's second-largest bank, VTB, to buy a 30% stake in Polyus Gold, Russia's leading gold producer, a spokesperson said on Wednesday.
The Federal Antimonopoly Service warned, however, that it would have to reject the deal altogether unless the two parties provided information on final beneficiaries.
Under anti-trust laws, the Federal Antimonopoly Service (FAS) is required to consider approvals within a month, but can postpone decisions for another two months if additional information is required. The FAS has been considering the VTB deal for three months already.
"The application expires next Tuesday, on February 17. Unless we obtain the necessary information by that time, we will be forced to refuse them," Irina Kashunina said.
Russian billionaire Mikhail Prokhorov, owner of the Onexim Group investment vehicle, and his former business partner Vladimir Potanin, who heads the Interros holding company, hold 30% each in Polyus Gold.
Neither Onexim nor Interros has provided comment.
The Federal Antimonopoly Service warned, however, that it would have to reject the deal altogether unless the two parties provided information on final beneficiaries.
Under anti-trust laws, the Federal Antimonopoly Service (FAS) is required to consider approvals within a month, but can postpone decisions for another two months if additional information is required. The FAS has been considering the VTB deal for three months already.
"The application expires next Tuesday, on February 17. Unless we obtain the necessary information by that time, we will be forced to refuse them," Irina Kashunina said.
Russian billionaire Mikhail Prokhorov, owner of the Onexim Group investment vehicle, and his former business partner Vladimir Potanin, who heads the Interros holding company, hold 30% each in Polyus Gold.
Neither Onexim nor Interros has provided comment.
