Alexander Ermolenko, Head of FBK Legal corporate practice on possible buy-back of VTB shares
Alexander Ermolenko, head of FBK Legal Corporate Practice on-air of RBK TV commented upon the proposal Vladimir Putin made for VTB. The Prime Minister suggested buy-back of shares that were sold within people’s IPO of the bank in 2007 so that shareholders “would not bear any losses”. Alexander Ermolenko believes that in this case it’s pointless to calculate how the buy-back can be carried out: “In this case we deal just with non-market situation, with absolutely political settings and manipulations, it’s senseless to estimate it in terms of law or in terms of market profits or losses, this is a matter of politics”, the expert emphasized.
