MOSCOW, October 24 (RIA Novosti) - Russia's Vneshtorgbank (VTB) could reach a final decision on whether to take over Promstroibank Industrial and Construction Bank [RTS: PCBS] in November, the head of VTB said Tuesday.
In late 2005, state-owned VTB increased its stake in Promstroibank to 75% plus three shares. Promstroibank shareholders have already voted in favor of VTB's takeover.
"In November, this issue could be resolved," Andrei Kostin said.
VTB needs to receive government approval for the takeover.
