MOSCOW – Russia's Otkritie bank has become a shareholder in Russian gold and silver producer Polymetal, the bank's MD Alexander Dmitriev said on Tuesday.
The bank owns 7.56% in Polymetal and has no plans to sell the stake, Dmitriev added. He did not elaborate on how the bank had become a shareholder of Polymetal. Polymetal is co-owned by businessman Alexander Nesis.
Otkritie bank was part of the larger Otkritie group, where Nesis is also a shareholder. Last month, the central bank decided to take over Otkritie bank in a bail out.
In a separate statement on Tuesday, Polymetal said that Russia's central bank had taken over a decision-making process in the bank and Otkritie Holding no longer has voting or power of disposition over shares in Polymetal by Bank Otkritie.
Edited by: Reuters
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