A London arbitration tribunal has seized a minority stake in the Bank of Moscow, creating a potential obstacle to Russian's No.2 bank, VTB, as it attempts to buy the company. VTB wants to increase its Bank of Moscow stake to 100 percent despite strong resistance from its management, and it has also agreed to buy 3.88 percent from Goldman Sachs to gain control. A commercial arbitration court in London, however, seized Goldman Sachs' stake after a company tied to Bank of Moscow's president and major shareholder, Andrei Borodin, filed a complaint. The apparent basis for the complaint is that Goldman Sachs had to offer its stake to Bank of Moscow first.
http://www.reuters.com/article/2011/03/03/vtb-bankofmoscow-idUSLDE7220RZ20110303
http://www.vedomosti.ru/newspaper/article/255992/vtb_zastryal_v_londone
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