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Russia VTB's privatisation to take place when conditions 'suitable' - CEO

Reuters

MOSCOW (Reuters) - The privatisation of Russia's VTB bank (VTBR.MM) will take place when market conditions become "suitable", the bank's Chief Executive Officer Andrei Kostin, said on Saturday.

"I think that privatisation should take place only when there are suitable market conditions, right now the situation is difficult," Kostin told state television channel Rossiya-24.

He also said that Western companies are welcome to participate in the stake sale, if they wish.

(Reporting by Lidia Kelly; editing by Adrian Croft)