17:22, 29 September 2008 Page views 382 views

VEB Gets Control over SvyazBank

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Vnesheconombank (VEB) has coordinated with the Bank of Russia acquisition of 98 % of  shares of SvyazBank and a financial support program for the latter. According to experts, a bankruptcy of SvyazBank could result in a serious social explosion, because the bank handles pension transfers.

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