
Russian billionaire Mikhail Fridman's Altimo telecoms firm said Wednesday it had reached a $3.6 billion deal with Egyptian tycoon Naguib Sawiris for 15 percent of his voting shares in mobile operator Vimpelcom. The announcement raises the voting shares held by Altimo to just above that controlled by its Norwegian rival Telenor and extends a bitter feud for control of one of the world's top mobile phone companies. The Altimo telcoms investment branch of Fridman's Alfa Group said it acquired the 14.8 percent stake from Sawiris Weather company and bought additional shares on the open market to raise its holding to 40.5 percent. That just edges the 39.5 percent Norway's global wireless operator achieved earlier this year thanks to a deal with Sawiris that is now being contested by Russia's anti-monopoly authorities. The New York-listed Vimpelcom Ltd. -- famous for the brands Beeline and Wind -- closely trails MTS and MegaFon in Russia and is a strong presence on the Italian market.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor