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Dec. 27, 2007, 11:33 a.m. EST

Russia's VTB sells stake in Airbus parent to government

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By Steve Goldstein

LONDON (MarketWatch) -- Russia's VTB Bank said it's sold its stake in EADS [fr:005730], the parent of Airbus, to the government-owned Vnesheconombank. VTB didn't disclose the price for the stake of over 5%, though reports indicated it's receiving $1.45 billion. VTB said the stake sale was to optimize its balance sheet and focus on core business activities.

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