Alfa reveals telco plans

10 Aug 2006

Russia’s Alfa Bank has revealed that it plans to create a major telecoms operator. Prime Tass reports that the bank has held talks with the country’s President Vladimir Putin regarding the founding of a large telco which would operate both in Russia and overseas. Alfa Bank is part of the Alfa Group which already has stakes in a number of Russian telcos, including a 32.9% voting stake in the second largest cellular operator Vimpelcom, a 25.1% indirect stake in third operator MegaFon and a 29% interest in Golden Telecom, as well as stakes in operators in Ukraine and Turkey.

Russia, Beeline (Russia), MegaFon