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Volksbanken Target June for East Europe Unit Sale, Standard Says

Oesterreichische Volksbanken AG, the lender raising cash to repay Austrian state aid, aims to sell its eastern European unit by June, Austrian daily newspaper Der Standard reported.

OAO Sberbank, Russia’s biggest bank, is the only outside bidder for Volksbanken’s VBI unit, Der Standard said, citing sources close to the government. VBI co-owner Groupe BPCE may buy out Volksbanken and Germany’s DZ Bank if the sale to Sberbank fails, it said.

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