Russian bank chief points way to more Europe deals

Russian and European Union aerospace businesses could co-operate in asset swaps, joint production facilities and even the creation of a pan-European holding company, according to the head of a Russian state-owned bank, Andrei Kostin, chief executive of Vneshtorgbank (VTB), which snapped up a 5.4 per cent stake in EADS, the European defence and aerospace group earlier in 2006.