Altimo plans Vimpelcom stake increase

26 Apr 2012

The CEO of Altimo, the telecoms investment arm of Russia’s Alfa Group, has told the Financial Times that his company wants to raise its stake in multinational telecoms group Vimpelcom. The news follows the recent sale of Altimo’s stake in rival Russian cellco MegaFon. The executive told the newspaper that Altimo is likely to use USD1.5 billion of the USD5.2 billion it earned from the sale of the stake in MegaFon in order to increase its holding in Vimpelcom. Norway’s Telenor and Altimo have been locked in battle over the control of Vimpelcom for the last eight years.

Russia, Telenor Group, VEON