The fund Altimo, holding the telecom investments of the Alfa Group Consortium, has increased its share in the VimpelCom capital from 51% to 52.7%. The voting stake has been increased from 40.5% to 41.8567%. The investment fund has purchased 27.213 million shares of the telecom company from the market from 17 August till 4 October. The total sum of the purchase is $ 273.8 million.

Altimo and Norwegian Telenor, which owns 43 % of VimpelCom’s voting shares, have been fighting for control over mobile-phone operator since February this year.

VimpelCom is one of the world’s largest integrated telecommunications services operators providing voice and data services through a range of traditional and broadband mobile and fixed technologies in Russia, Italy, Ukraine, Kazakhstan and other countries. In Russia VimpelCom provides mobile-operating services under the brand "Beeline".

Altimo was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium.