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Reuters: Unicredit is looking for investors from outside Russia to sell its Moscow division

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Italian bank Unicredit is looking for investors from outside the Russian Federation to sell the Russian division. This was reported by Reuters on Monday, citing two sources.

According to a source, UniCredit was negotiating the sale of its business in Russia with Russian investors, but due to the sanctions imposed by Western countries against Moscow, it had to start looking for potential buyers in countries such as India and China. According to another source, such negotiations are already underway.

UniCredit declined to comment, according to Reuters.

In May, Bloomberg reported that Unicredit was conducting preliminary consultations with unsanctioned entities on the sale of the Russian business.

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The Financial Times reported that the bank rejected the offer of Vladimir Potanin’s Interros group, which is not on the EU, US and UK sanctions lists. Neither party has officially commented on the release of this information.

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