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. Last Updated: 07/27/2016

VTB Talks Up EADS Stake Offers

VTB Group said Friday that it had been approached by three investment banks about the sale of its 5 percent stake in the European Aeronautic Defense and Space Co., Europe's largest aerospace company.

"We found very big demand for these shares over the last three or four weeks," CEO Andrei Kostin said. "We have been approached by three or four investment banks asking us whether we are going to sell."

VTB paid about 1 billion euros ($1.4 billion) last year for the shares of EADS, the parent company of airplane manufacturer Airbus. Kostin said VTB was not going to sell its stake in EADS at the current price.

"When the price goes up, we will consider seriously this matter," Kostin said. "Nothing is decided yet, we are just watching the market."