Pinchuk Assures Bank Intesa On USCB Sale?

Ukrainian oligarch Viktor Pinchuk’sInterpipe Group released a statement yesterday which confirmed that Bank Intesa was still the group’s strategic partner in the sale of Ukrsotsbank (USCB: BUY). The press release also stated that if the Italian bank did not receive clearance from the National Bank of Ukraine before the deal’s March 31 deadline Interpipe “would be prepared to discuss the elongation of the negotiating process.”  Yesterday the Financial Times, published an article citing sources close to the deal suggesting that it was unlikely to go through. Nick Piazza: Interpipe’s interest in discussing the elongation of the deal clearly suggests that if Bank Intesa wants to finalize the deal for USCB it is going to have to pay more. Our sources have said there is little chance of the deal going forward at the current price.