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Altimo increases its share in VimpelCom
7.10.2012 13:24
Altimo increases its share in VimpelCom

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.


      

 


Author: Irina Fomina

Tags: Russian business Russian mobile networks    

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