OREANDA-NEWS. Societe Generale disclosed on October 26 it had received clearance from the Central Bank of Russia for a previously announced deal to take control of Rosbank, research department of Aton Capital reports. Societe Generale currently owns 20% minus one share of Rosbank and has an option (exp. end-2008) to buy an additional 30% plus two shares for $1.7bn ($7.87 per share). If Societe Generale exercises the option, Russian law requires it to make a buy-out offer to the remaining shareholders at not less than $7.87. Although this represents just 6% upside from the current market price of around $7.4, it would set a floor for the bank's shares.