Usmanov wants new company to hold Scartel and MegaFon

26 Apr 2012

Ivan Streshinsky, the CEO of Telecominvest, has told the Kommersant newspaper that his company plans to create a holding company which would own shares in both MegaFon and Scartel. Telecominvest is majority-owned by the billionaire businessman Alisher Usmanov, who secured control of MegaFon on Tuesday via AF Telecom, which now owns 50% plus one share of MegaFon directly and through Telecominvest. Meanwhile, state conglomerate Russian Technologies owns 25.1% of Scartel, with Fund Telconet Capital, co-owned by Sergei Adoniev, owning the remainder. Russian Technologies recently confirmed that it was in talks with a number of possible investors in Scartel, including Usmanov. According to Streshinsky, under the proposed plan Usmanov will own 80% in a holding company which in turn would own 100% of Scartel and 50% plus one share of MegaFon.

Russia, MegaFon, Scartel (Yota)