Otkritie Abandons Bid for KBC’s Russian Unit, Kommersant Says

Otkritie Financial Corp., a Russian company partly owned by VTB Group, abandon talks to acquire Absolut Bank, a Russian unit of Brussels-based KBC Groep NV, Kommersant reported, citing people it didn’t identify.

Vasily Zablotskiy, the head of Otkritie’s banking unit who led talks on acquiring Absolut, quit the company this week, the Moscow-based newspaper said, citing Zablotskiy.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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