Alfa ups stake in Vimpelcom

8 Mar 2007

Russia’s Alfa Group is to increase its stake in the country’s second largest cellular operator, Vimpelcom, Prime Tass reports. Alfa’s telecom unit Altimo is acquiring 1.4% of Vimpelcom’s voting shares from Deutsche Bank for USD256.4 million in a series of five deals which will boost Alfa’s voting stake in the cellco to 37.7%. Norwegian operator Telenor holds 26.6% of Vimpelcom’s voting shares. Vimpelcom had 47.65 million subscribers across Russia at the end of September, according to TeleGeography’s GlobalComms database.

Russia, Beeline (Russia), VEON