KazKom is key bidder for Barclays Russian subsidiary

Kazakhstan-based KazKommertsBank is the key bidder for the Russian branch of British Barclays bank, according to Kommersant . “Yes, the negotiations on the sale of the bank are indeed at the final stage, but we are not authorized to disclose the bidders,” Barclays bank’s press-service reported. Bank Renaissance Capital , Svyaznoy Bank and Nordea Bank are also among the bidders. According to the media the bidders are considering partial purchase of the assets, whereas the British owners what to sell the bank all-in-all. “Right now KazKommertsBank is the most likely bidder because it is the only bidder that is offering to buy Barclays entirely and not just some of its parts,” one of the British bank’s top managers said. According to preliminary information the negotiations with the Kazakh bank started around 3 months ago. Barclays announced its intention to sell its Russian subsidiary in February this year. The British bank wants to shift its focus in Russia to investing through Barclays Capital.”