Investors merge VTB
BlackRock has sold it ADR on 75 million dollars
Foreign investors BlackRock Fund Advisors, DWS Investment, Danske Capital Finland have begun sale of receipts VTB. It is necessary to give due intuitions of the western managing directors: after ten days after that the situation around VTB from - for purchases of Bank of Moscow by it began to worsen - agency Moody`s has lowered to the State Bank the forecast on a rating.
According to data Bank of New York Mellon Nominees, “ a daughter “ the American investment company BlackRock - BlackRock Fund Advisors (BFA) has sold in the end of June all belonging to it ADR bank VTB on 76,44 million dollars Earlier fund estimated entry cost on 6,17 dollars for one receipt. Most likely BFA it was possible to leave from ADR VTB lost-free while yesterday receipts already bargained at a mark 5,88 dollars
it is amusing that else on June 22 this year Sam Veht operating the East Europe investments BlackRock in every possible way praised highly actions VTB to resource FT Advise. “ the Russian bank sector remains attractive, crediting quickly increases, reserves on bad debts against a complete recovery of sector from financial crisis decrease. We count that VTB will win from all these factors “ - Sam Veht spoke. Yesterday representative BlackRock Emma Phillips daily has answered inquiry without delight: “ According to our policy we do not give comments concerning papers of the separate companies “.
According to the director of department for management of actives “ Alliance ROSNO “ Michael Akromovsky, change of mood BlackRock to actions VTB is connected by that it was necessary for fund to sell the big position, and in this case “ why not to tell that actions are good, that people bought “. Except BFA a share in ADR have started to reduce DWS Investment (to 5,5 million dollars) and Danske Capital Finland (on 3,7 million dollars) . Probably, funds had a presentiment of a situation round Bank of Moscow and VTB: after they have sold receipts, agency Moody`s has lowered ratings of Bank of Moscow to negative and has given the same forecast on rating VTB.
Michael Akromovsky supports the decision of funds: “ Now it is better not to have actions VTB. At those price levels on which the bank bargains, it is better to sell and buy it something standing “. According to partner Verno Capital of Bruce Bauer, of course, all are afraid of a situation in Bank of Moscow and that bank VTB again should involve the new capital.
It is indicative that funds prefer to take shares of other Russian banks. So, American Capital Group and Swiss Pictet Asset Management have together got actions NOMOS - bank almost on 50 million dollars Also Capital Group and BFA have bought Savings Bank receipts on 400 million and 215 million dollars accordingly.