VTB delays Wildberries deal to September
The deal between VTB (MOEX: VTBR) and the joint company Wildberries&Russ (RWB) to purchase the bank's stake in the digital financial assets of the marketplace has been postponed from August to September.
Consensus
- The deal between VTB and Wildberries & Russ was postponed to September.
- VTB will not force the deal, recognizing that RWB's management is focused on addressing extraordinary events.
- The parameters of VTB's additional share issuance remain unchanged.
- The volume of the additional issuance is expected to be 300–400 billion rubles, closer to the lower end of the range.
- The composition of anchor investors in the additional issuance remains unchanged.
- VTB plans to acquire a minority stake in WB Bank and RWB's fintech assets, not a controlling interest.
- The deal is part of a strategic partnership initiated in May between VTB and RWB.
- VTB aims to use the funds from the issuance for the partnership and acquisition of RWB's financial assets.
- VTB maintains its 2026 net profit target of 600 billion rubles.
Points of divergence
- The board of directors of VTB proposed a placement limit exceeding 540 billion rubles. — vedomosti
- Retail investors are expected to participate only marginally in the additional issuance due to a gap between the deal price and market value. — fontanka
- The initial target for the deal was August, and the placement range is described as 'old' and close to its lower boundary. — komersant
Coverage (4 sources)
- VTB and Wildberries postponed deal to September — Ведомости
- VTB and Wildberries deal postponed to September — Коммерсантъ
- VTB maintains plans to acquire a stake in WB Bank. Deal postponed to September — Фонтанка
- VTB moved the deal with RWB to September — Коммерсантъ