Kazkommertsbank likely to buy Barclays Russian unit
Kazkommertsbank, Kazakhstan's No.1 lender by assets, is in final talks about acquiring the Russian unit of Britain's Barclays, Reuters says referring to the daily Kommersant.
The newspaper reported that the deal's price tag is unlikely to exceed 1.2-1.3 times the capital of the unit, but would not put a dollar figure on it.
In February, Barclays said it would sell its Russian retail unit and focus on investment banking, as it was unable to compete in local retail business.
No was immediately available for comment at Kazkommertsbank, Reuters reported.