Russias VTB eyes 10% stake in Czech Home Credit report.

By bne IntelliNews July 27, 2011
Russias second-biggest lender VTB plans to buy a stake of up to 10% of Czech banking group Home Credit, Vedomosti daily reported citing unnamed sources. Home Credit is owned by PPF group, controlled by Czech billionaire Petr Kellner. The purpose of the deal is to generate a profit from the initial public offering of Home Credit planned for the autumn. Home Credits Russian subsidiary, Home Credit and Finance Bank, is the companys main asset, generating about 75% of its business.

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