Qatar interest lifts VTB stock

 
Marion Dakers
SHARES in Russian bank VTB shot up as much as five per cent yesterday after reports that Qatar’s sovereign wealth fund is preparing to invest up to $3.5bn (£2.3bn).

VTB, which has offices in Moscow, London New York and Singapore, is said to be in the final stages of talks with the Qatar Investment Authority about a cash injection.

Neither firm responded to a request for comment yesterday.

VTB has expressed an interest in issuing equity this year, as the Russian government gets ready to reduce its stake in the bank.