VTB to acquire Otkritie from Bank of Russia for $4.7bn.

VTB, a Russian majority state-owned bank, agreed to acquire Otkritie, a banking company, from Bank of Russia, a Russian central bank, for $4.7bn. VTB has fallen under some of the toughest sanctions imposed by the West on Russia's financial sector, is struggling, something that had raised doubts about the long-awaited Otkritie purchase.