Russia's VTB considers selling stake in its Angolan unit


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MOSCOW, May 27 (Reuters) - Russia's second-largest bank VTB VTBR.MM is considering selling its stake in Angola-based Banco VTB Africa, VTB told Reuters on Monday, adding that it was too early to talk about details of the possible deal.

VTB Africa is headquartered in the Angolan capital of Luanda. VTB owns 50,1% of VTB Africa's shares, while Antonio Carlos Sumbula, former head of Angolan state-owned diamond firm Endiama, holds 49,87%.

VTB was one of the Russian banks hit by Western sanctions over Moscow's annexation of Crimea from Ukraine in 2014. The sanctions have prompted several Russian banks to adjust their business plans, including their presence abroad.

"VTB has decided to hand over its African unit ... because of changing market conditions and sanctions against the bank," a source close to the state-controlled lender told Reuters. He did not specify the identity of the potential buyers.

(Reporting by Tatiana Voronova, Polina Devitt; editing by Katya Golubkova and David Evans)

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