BiMoCom ownership in dispute

8 Oct 2009

Russian news agency ComNews is reporting that the ownership of Kyrgyz mobile operator BiMoCom, which provides services under the Megacom banner, is in dispute by its previous majority shareholder, Russian-owned, Cyprus-registered fund Eventis Telecom. BiMoCom was established in 2004 under the ownership of Eventis (51%) and a number of Kyrgyz businessmen (49%), but is now controlled by Alfa Telecom, whose ownership remains unclear. A source familiar with the matter told ComNews that under a memorandum of association signed between the two founders, should the ownership of either shareholder change, then the second party has the right to redeem their share in the cellco. In June 2008 it was reported that Eventis Telecom was sold by Russian businessmen Vladimir Androsik and Dmitry Ivanter to Gleb Ognyannikova. However, Eventis refused to sell its shareholding in BiMoCom, sparking a legal battle over the cellco’s ownership. A court in Kyrgyzstan ruled that the assets of BiMoCom be transferred to Alfa Telecom. Eventis Telecom spokesperson, Maria Safronov, has told Russian newspaper Vedomosti that BiMoCom has been unlawfully denied the right to ownership of the shares. TeleGeography’s GlobalComms Database notes that Eventis Telecom also owns minor Moldovan cellco Eventis Mobile.

Kyrgyzstan, MegaCom (Kyrgyzstan)