RIA NOVOSTI. The Federal Anti-Trust Service (FAS) has allowed a subsidiary of federal postal services provider Russian Post to buy a 50% — 1 share stake in Leto Bank, which is part of VTB Group, said Lilia Belyaeva, deputy head of financial markets control at FAS.
"The permission has been given for Pochtovye finansy LLC (Postal Finances) to acquire a 50% — 1 voting share interest in Leto Bank PJSC," Belyaeva said.
VTB Group and Russian Post have been establishing Pochta Bank on the basis of Leto Bank.Pochtovye finansy, a new company of Russian Post that was registered on September 7, 2015, will buy from VTB Bank a 50% — 1 share equity stake in Leto Bank. So, VTB Bank will be the controlling shareholder of the joint bank.