Alfa ups Vimpelcom stake

24 Nov 2006

The battle for control of Russia’s number two mobile operator Vimpelcom has taken a new twist, with Alfa Group increasing its voting stake from 32.9% to 35.8%. The transaction has been carried out via Eco Telecom, a subsidiary of Alfa’s telecoms arm Altimo. Alfa and fellow Vimpelcom shareholder Telenor have been fighting over the cellco’s future direction, following its purchase of mobile operator URS in Ukraine, a market where Telenor and Alfa also hold interests in leading cellco Kyivstar.

Russia, Beeline (Russia), Telenor Group, VEON