Telenor dismisses Alfa’s partial merger suggestion

26 Jun 2006

Norwegian telecoms group Telenor has dismissed a proposal from Altimo, the telecoms arm of Russia’s Alfa Group, for a partial merger between the two companies, reports Cellular News. Telenor’s Russian operations head Kjell-Morten Johnsen told journalists he thought it ‘highly unlikely’ that his company would agree to Altimo’s suggestion – aired on Norwegian television – that Telenor should combine its emerging market assets with Altimo. Telenor and Altimo are shareholders in Russia’s second largest cellco Vimpelcom, Ukrainian mobile market leader Kyivstar and Russian alternative fixed line operator Golden Telecom. Telenor also owns stakes in operators in countries including Bangladesh, Pakistan, Hungary and Serbia.

Norway, Russia, Telenor Group