Bank Group Withdraws From Loan Talks With Potanin, FT Reports
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A group of global banks has withdrawn from talks to provide a $1 billion credit line to Vladimir Potanin, who owns 25 percent of OAO GMK Norilsk Nickel, the Financial Times reported, citing unidentified people familiar with the matter.
The loan was sought to enable Interros, Potanin’s holding company, to pay down part of $3.2 billion that is owed to VTB, the Russian state bank, and is due this month, according to the newspaper.