VTB Bank

The Russian embassy in Sofia, Bulgaria. Photo: Wikimedia Commons/MrPanyGoff.

The embassy claimed in a post on Facebook that it was launching the fundraiser in response to popular demand from Bulgarians.

Austria's Erste Bank on Friday announced that Croatia's biggest private company Agrokor - currently embroiled in a deep financial crisis - and its creditors had reached a deal on a "standstill agreement" whereby the company will remain financially liquid while its debts are placed on "standby".

A Croatian economic analyst told BIRN that Russia's state-owned bank Sberbank and VTB Bank may take over partial ownership and management of troubled Agrokor, the biggest private company in Croatia.

It "can't be ruled out", economic analyst Guste Santini told BIRN.

Russia's Economy Ministry has chosen three domestic investment banks to organize the privatization of large state companies this year, it said on April 4.

It chose VTB Capital to arrange the privatization of oil company Bashneft, Sberbank CIB for the privatization of diamond miner Alrosa and Renaissance Broker for the privatization of VTB Bank, it said in a statement.

Simeon Djankov, a former Bulgarian Finance Minister, has stepped down as rector of the New Economic School in Moscow (also known as the Russian School of Economics, RES), RBC Daily reports.

The business news outlet writes there is "mutual consent' about the move after Djankov has taken the office since 2013. Djankov is not leaving the Board of Directors of RES.

Paris-based LIC33, a private capital investment company, has acquired 43% of Bulgaria's telecommunication operator Vivacom (www.vivacom.bg) and about 91% each of ammunition plant Dunarit (http://www.dunarit.com) and military aircraft repair plant Avionams (

The LIC 33 group, comprising investors from the EU, is acquiring control of Bulgarian telecommunication operator Vivacom and other leading companies in the country, dnevnik.bg reported on Wednesday.

LIC 33 will acquire majority stakes in Vivacom and other Bulgarian companies, according to the news daily. The names of the other companies weren't disclosed.

Simeon Djankov, former Bulgarian Finance Minister and Deputy Prime Minister, is to enter the Supervisory Council of Russian VTB Bank.