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UniCredit in Talks to Sell Russia Unit After Buyers Approach

  • UniCredit is also still considering other options for the unit
  • Lender is one of European banks with largest Russia presence
Updated on

UniCredit SpA is in preliminary talks for the sale of its Russian unit after it was approached by interested buyers, marking what could be the second major exit by a large European bank.

The Italian bank has attracted unsolicited interest from financial institutions as well as firms interested in obtaining a bank license from within Russia, according to people with the knowledge of the matter who asked not be named because the matter isn’t public. Early stage talks with potential non-sanctioned buyers started recently, the people said, declining to name the interested parties.