Moscow EASTBRIDGE BANK’s shareholders have approved the decision to suspend an open tender for the sale of a blocking stake. The tender was announced for the sale of 25% plus one share to a foreign strategic investor. The decision is based on the fact that the bank now stands a good chance of entering the deposit insurance system via court proceedings which in turn will adjust tender terms. EASTBRIDGE has already informed all tender bidders who approved the bank’s decision to continue talks after joining the deposit insurance system.
Source: BANKI.RU, November 14, 2006
