Shares of Bank of Moscow is not purchased for resale

The new shareholder of the Bank of Moscow Vitaly Yusufov, bought just under 20 percent of the shares at the current bank president Andrei Borodin intends to nominate two candidates to the board of directors of a credit institution, including his candidacy, according to RIA Novosti. A total of 15 seats the council. The largest shareholder is now the state bank VTB shares in 46.48 per cent. "In accordance with the size of the package - 19.91 percent - we are supposed at least two seats on the board. I will stand as a candidate, second candidate - non-public entity "- quoted Yusufov agency. Vitaly Yusufov confirmed that he will list the candidates in the near future. Meanwhile, VTB said the state bank has arrangements with Yusufov to acquire the shares of the bank for the credit institution. Earlier versions were expressed that Yusufov acted in the interests of VTB. On Monday, 11 April, Vedomosti newspaper reported citing its sources, that the businessman Vitaly Yusufov, who in early April, got nearly 20 percent stake in Bank of Moscow Andrey Borodin its president, took to finance the transaction in the same financial institution credit 1,1 billion dollars. Business media earlier reported that a former manager of Gazprom Vitaly Yusufov, co-owner of Nordic Yards and "Basis of Telecom, has not been seen in the interest of the banking sector. VTB owns just over 46 percent of Bank of Moscow. State Bank became the owner of a financial institution in early 2011, buying an asset in city government. After that, VTB began the conflict with minority shareholders: Andrei Borodin, the State Bank offered to get rid of shares of the Bank of Moscow. VTB, in turn, tried to shift the Borodin from his post. In early April, the head of VTB Andrey Kostin said that more than 70 percent of the shareholders of the Bank of Moscow were made for the resignation of Borodino. It is assumed that this decision will be approved at a shareholders meeting on April 21. Borodin, now based in London. In Russia, it goes in as one of the defendants in the case of theft from the budget of Moscow through the credit issued by Bank ZAO "Premier Estate (structure Inteko). In the Russian Prosecutor General's Office say they will seek extradition of Borodin.