The Moscow city government has sold its 46.48% stake in Bank of Moscow and 25% plus one share in Stolichnaya Insurance Group, which owns 17.32% in Bank of Moscow, to Russia's No. 2 lender VTB for 103 billion rubles ($3.51 billion), Moscow Deputy Mayor Natalya Sergunina said on Tuesday.
The sum paid for the stakes is 14.4% higher than their official valuation, Sergunina said.
MOSCOW, February 22 (RIA Novosti)
