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Tearful Magnit founder sells out to banking group VTB for $2.5 billion

Feb. 16, 2018 - Source: Reuters

... conference with VTB chief Andrey Kostin it had not been an easy decision to sell. “I founded this company, but time passes and nothing is for ever,” he said in a voice cracking with emotion.

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VTB Bank history is the history of establishing a standard-bearer for the Russian banking industry. Nowadays, VTB plays the key role in lending to the economy and developing the retail ...


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