VTB May Pay $1.7 Billion to Acquire Transcreditbank

(Corrects amount in headline and first paragraph after Interfax corrected its story.)

VTB Group may pay about 54.3 billion rubles ($1.7 billion) for OAO Transcreditbank, a unit of OAO Russian Railways, Interfax reported, citing VTB Deputy Chairman Herbert Moos.

A final price hasn’t been determined yet, Moos said on Russia Today state television, according to the Moscow-based news service.

To contact the reporter on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

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