Bloomberg News

Bank of Moscow Shares Jump Most in Month on Buyback Report

February 21, 2012

(Updates with closing price in second paragraph.)

Feb. 21 (Bloomberg) -- Bank of Moscow, the lender that received Russia’s biggest state bailout last year, jumped the most in more than a month after Interfax reported VTB Group may buy back shares in the company from retail holders.

VTB may offer 1,108.65 rubles per share in the buyback, Interfax said, citing Ekaterina Petelina, a board member at VTB. Bank of Moscow’s stock rose 4.9 percent to 970.70 rubles at the close in Moscow, the biggest daily advance since Jan. 9.

--Editors: Linda Shen, James Kraus

To contact the reporter on this story: Jack Jordan in Moscow at jjordan22@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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