Usmanov takes MegaFon stake

12 May 2008

The billionaire Russian investor Alisher Usmanov has acquired a 39.3% stake in the country’s third largest cellular operator by subscribers, MegaFon, according to reports from local business daily Vedemosti. Usmanov has reportedly bought an 8% stake in MegaFon from Bermuda-based investment fund IPOC and has also acquired a 58.9% interest in MegaFon holding company Telekominvest, which owns 31.3% of the cellco. The Telekominvest shares were acquired from Luxembourg-registered First National Holding (FNH), Reuters writes. Both IPOC and FNH are owned by Jeffrey Galmond. Other MegaFon shareholders include TeliaSonera and Russia’s Alfa Group.

Russia, MegaFon