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Merrill Lynch penetrates Russian banking

Published 15 Nov, 2007 15:12 | Updated 15 Nov, 2007 18:12

One of the world's leading financial groups Merrill Lynch is buying about 10% in Russia's banking holding Trust.

Merrill Lynch says it’s not planning to increase is its interest in Trust bank to a controlling stake.

The Russian bank says a Merrill Lynch representative will join its board of directors.

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