Bank of Moscow president is looking for political asylum in London

One more ‘political victim’ has found himself looking for political asylum in London, following other Russian businessmen claiming to be wrongfully convicted by state authorities. Bank of Moscow president Andrei Borodin is unlikely to follow the scenario he draw himself — to get back to Russia “as soon as he will recover his health condition”. The proposition was made by another Russian disgraced oligarch Boris Berezovsky in the conversation with The Daily Mail reporter.

Berezovsky can be right, as pure statistical numbers would show that Andrei Borodin can face something else rather than a warm welcome upon his return, if and when it would occur. 

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VTB purchases the Moscow city government’s stake in Bank of Moscow

VTB purchased a 46.48% stake in Bank of Moscow (BoM) and a 25%+1 share in SSG (which controls 17.3% of BoM) from the city’s government on Tuesday, Vedomosti reports.

VTB paid RUB 103bn for the stake, implying a RUB 203bn valuation for the whole bank – a 14% increase over the city’s previous valuation of RUB 178bn, but below the RUB 240-280bn target announced by BoM President Andrei Borodin on Monday. 

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Situation around Bank of Moscow escalates

The Bank of Moscow (BoM) board of directors canceled its decision to re-elect its president at a shareholders meeting on 4 March, Vedomosti reports. The board selected 3 May for the AGM, during which a new president is to be elected. 

Two candidates are listed: current president Andrey Borodin, and his deputy, Dmitry Akulin, thus ignoring VTB’s candidate, Mikhail Kuzovlev. 

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