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The bank is in negotiations with privately-owned Russian companies, including Expobank and insurance company Reso-Garantia for the divestiture, the report said.
Financial Times report also added that Société Générale’s former Russian subsidiary, Rosbank, owned by Vladimir Potanin, has also expressed interest in buying Citi’s operations.
Earlier, Potanin said he was not interested in buying more banks after acquiring a stake in fintech TCS. He said he was forced into the sale by the Kremlin after criticizing the war.
Price Action: C shares are up 0.24% at $46.10 during the premarket session on the last check Friday.
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