Alfa to consolidate MegaFon and Turkcell stakes?

2 Nov 2009

Russia’s Alfa Group is considering plans to consolidate its stakes in the country’s third largest wireless operator MegaFon and Turkey’s Turkcell, according to a report by Reuters, citing senior company officials. As the company has finally concluded an ongoing legal conflict with Telenor over the operation of mutual investments in Russia and the Ukraine, agreeing to merge their holdings into a USD23 billion telecom firm, the conglomerate is now turning its focus to its other assets. Alexei Reznikovich, chief executive of Alfa’s telecoms arm Altimo, said: ‘We have two more assets, a stake in MegaFon and in Turkish operator Turkcell. Now our aim is to consolidate these assets, to create on their basis a Russian telecommunications company of a global standard.’

Russia, Beeline (Russia), MegaFon, Telenor Group, Turkcell, VEON