Austria's RBI can't give timing on possible Strabag deal, CEO says [Reuters]
RAIFFEISEN BK IN UNSP/ADR (RAIFY)
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Source: Reuters
VIENNA, April 4 (Reuters) - Austria's Raiffeisen Bank International (RBIV.VI) , opens new tab , the biggest Western bank in Russia, cannot give a timeframe for its contested deal to purchase a stake in Austria's Strabag (STRV.VI) , opens new tab that was long held by a now sanctioned Russian tycoon, the bank's chief executive said on Thursday. But Chief Executive Officer Johann Strobl told shareholders at an annual general meeting, "the earlier the better". The comments are the latest development in RBI's attempt to unlock the stake in a complex deal as a means of freeing up some of its billions stranded in Russia. Reuters reported on March 20 that U.S. Treasury officials have expressed their concerns about the 1.1 billion euro transaction in meetings with the bank and Austrian authorities. Reuters Graphics Earlier this week , RBI said that the deal complied with sanctions laws but that it "requires extensive compliance verifications" following a recent transfer of the holdin
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