VTB never seriously considered buying Tinkoff. Some time ago there was speculation the deal was possible

VTB (MOEX: VTBR) has never seriously considered buying Tinkoff Bank, VTB's top managers told reporters at the “RUSSIA CALLING!" forum.

"We never considered this possibility. At least it never reached my level", said Andrey Kostin, President and Chairman of the VTB management Board.

"We didn't really look at it," added Yuri Solovyov, Kostin’s first Deputy.

Kostin mentioned that some time ago he was informed Tinkoff Bank was being sold, but he showed no interest and never considered buying it. "Some year – a year and a half ago I heard from my colleagues that Tinkoff was being sold, but I never really showed any interest in it and never developed this topic," the head of VTB said.

“I don’t think they were really into talking to us as we took no interest in that”, Kostin noted.

Solovyov also said that the main owner of TCS Group (MOEX: TCSG) Oleg Tinkov has not approached VTB with an offer to buy the bank lately. "He hasn’t approached us lately, so there’s no point in commenting on the deal and our position," he said.