Alfa holding on to VimpelCom

13 Jan 2006

Russia’s Alfa group says it has no intention of offloading its stake in the country’s second largest cellular operator, VimpelCom. Its statement followed an announcement by Telenor saying that it wanted to increase its existing 30% stake in the operator by up to 45%. Alfa currently has a 25% interest in VimpelCom, while around 44% is in free float. Alfa and Telenor have disagreed over VimpelCom’s strategy in Ukraine and Telenor has hinted it is now unable to work alongside the Russian group.

Russia, Beeline (Russia)