Shareholders reject Troika takeover talk

8 December 2006

Shareholders in Russia's Troika Dialog bank have no intention of selling the company, but are considering an initial public offering (IPO) or possible strategic alliances, a spokesperson has said.

According to MarketWatch, spokeswoman Victoria Abramenko said: "The shareholders of Troika Dialog do not face the task of selling to company - last year was the most successful in the company's history."

She was reacting to rumors, reported by both Dow Jones and Reuters, that Credit Suisse was interested in taking over what is one of Russia's few remaining independent investment banks.

The banks, which also include Renaissance Capital and Aton, have all been linked with possible takeovers from foreign banks in recent years, with major names such as Goldman Sachs and HSBC mentioned.

Troika appears to be resisting such a move, however, saying instead that it is considering strategic alliances with worldwide banks instead.

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