OREANDA-NEWS. October 22, 2010. The Board of Directors of JSC Russian Railways has preliminarily approved the sale of 10% shares of TransCreditBank to JSC Bank VTB. The Board of Directors meeting was held on October 15, 2010.

The per share selling price, according to the press release issued by Russian Railways, will be set at not less than RUB 17,17; the final share price will be determined based on TransCreditBank’s IFRS accounts for the full year of 2010.