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Report: Intesa Sanpaolo unit to help Russia with privatization, eurobond placements

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Report: Intesa Sanpaolo unit to help Russia with privatization, eurobond placements

's Russiansubsidiary Ao Bank Intesa plans to participate in placements of Russianeurobonds despite concerns from the U.S. and the European Union, news agencyTASS reported April 6, citing the unit's chairman of the supervisory board,Antonio Fallico.

Hereportedly said that while other financial institutions have stated that theywill no longer fund placements of Russian eurobonds, his bank will continue todo so and also plans to participate in the privatization of Russian companiesin the near future.

TASSadded that U.S. and E.U. authorities recently warned investment banks againstparticipating in placements of Russian eurobonds, as this could underminesanctions imposed on the country over its involvement in the Ukraine crisis.