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Gazprombank conducts no talks on acquiring businesses in Cyprus

March 21, 2013, 12:17 UTC+3
On Monday, reports arrived the bank may be interested in Cyprus’s offshore gas assets and the readiness to swap these assets for financial assistance
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MOSCOW, March 21 (Itar-Tass) – Russia’s Gazprombank is not conducting any talks at the moment on acquiring businesses in Cyprus, the bank’s first deputy president, Yekaterina Trofimova, said on the Vesti-24 television news channel.

She explained that the Cypriot authorities were initiating rumors about the bank’s involvement in some projects with the aim to show that the country’s government has alternatives (to the terms proposed by the EU).

On Monday, reports arrived Gazprombank may be interested in Cyprus’s offshore gas assets and the readiness to swap these assets for financial assistance. And on Wednesday mass media in Cyprus said that Cyprus Popular Bank may be sold to Russian investors. Gazprombank was mentioned as a likely buyer.

“The risks are too high, and the quality of these Cypriot banks’ balance sheets causes doubts. For that reason there must be profound analysis of these assets,” Trofimova said.

 

 

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