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OTP Bank could vie with Sberbank to acquire Austria's VBI

According to Russian business daily Kommersant, a new Hunagarian suitor has popped up for Volksbank International. Previously only Russian Sberbank signalled its interest in the acqisition.

OTP Bank chairman-CEO Sándor Csányi said Volksbank is present in the same region in which OTP Bank wants to expand, the Russian paper said.

Sberbank is to take a final decision on the matter by the end of July, chairman German Gref said on Wednesday.

The value of the transaction could reach €700 million, Kommersant said.