|
|
Altimo Secures Additional Stake in Vimpelcom
Published on:
Russia's Altimo has increased its stake in Vimpelcom, overtaking the stake held by Norway's Telenor in a move which may finally signal an end to the dispute between the two main shareholders, in Altimo's favour.
Earlier this month, Telenor increased its holding in Russia based VimpelCom to 42.95%, compared to Altimo's 41.85%. Overnight, Altimo purchased just under 6 percent of Vimpelcom shares from Ukrainian businessman Viktor Pinchuk - raising its stake to 47.85% and giving it effective control of the company.
Telenor's recent decision to increase its holding in the company was being opposed by the regulators who wanted to see the largest shareholder remain Russian. However, at the time, Telenor argued that Viktor Pinchuk's 6% stake was effectively controlled by Altimo anyway, so the Russian firm was the majority shareholder.
The latest transaction would seem to be simply formalising an existing relationship.
"We hope that this deal will remove the question of foreign shareholder control in Vimpelcom and will be a key in solving the conflict between (Russia's regulator) and Telenor," an Altimo spokesperson told the Reuters news agency.
Telenor responded saying that it is still seeking equal parity with its Russian partner as equal shareholders in the company.
On the web: Reuters
Tags: [vimpelcom] [altimo] [telenor] [Russia]
|
| |
|
| |
|
| |
|
| |