Russia has not received a request from Qatar's sovereign wealth fund to buy shares in state-controlled bank VTB, First Deputy Prime Minister Igor Shuvalov was quoted as saying on Thursday.
Shuvalov's comments responded to a report in British newspaper The Daily Telegraph last week that VTB may issue the Qataris with US$1.5bn of new equity and US$1.5bn of mandatory convertible bonds under a proposed deal.
Sources familiar with VTB's plans had said the report was not accurate.
VTB shares were down at 3.5 percent at 1040 GMT on Thursday, underperforming a 1.3 percent lower benchmark MICEX share index. VTB declined to comment.
"The government did not receive any requests," Shuvalov was quoted as saying by Russian news agencies. The state owns 75.5 percent of VTB, Russia's number two ender by assets.
VTB plans to issue new shares equivalent to at least 10 percent of its equity this spring, raising US$1bn to US$3bn to bolster its capital base to continue active business operations, such as lending.
After President Vladimir Putin last month urged all further state asset sales to be held in Russia, VTB CEO Andrei Kostin said the deal might be delayed.
Russian central bank chairman Sergei Ignatyev said on Wednesday that while an additional share issue would be a good solution for VTB, the state should not participate in the deal.