MegaFon rumoured to be considering London IPO

20 Apr 2012

Citing banking and industry sources, Reuters reports that MegaFon may float a stake of up to 20%, worth USD4 billion, on the London Stock Exchange (LSE) in the second half of this year. Any such IPO is likely to depend on agreeing a buyback of the 25.1% stake held by billionaire Mikhail Fridman’s Alfa Group via its telecoms arms Altimo. In the last few days Russia’s second largest cellco by subscribers has secured loans from three international lenders and one Russian bank. Speculation is widespread that the money will be used to purchase the stake owned by Altimo.

Russia, MegaFon