Orascom Telecom Holding SAE, the Cairo-based mobile phone company in which Russia’s VimpelCom Ltd. bought a majority stake in 2011, said investors should reject a buyout offer from billionaire Mikhail Fridman.
Vodka seller Central European Distribution Corp., headed by Russian billionaire Roustam Tariko, won court approval of its prepackaged restructuring plan a little more than a month after filing for bankruptcy.
Alisher Usmanov, Russia’s richest person, moved control of most of his $20 billion fortune last year to a holding company based in the British Virgin Islands, a collection of more than 60 isles 5,600 miles away from Moscow.
Billionaire Mikhail Fridman offered to buy out investors in Orascom Telecom Holding SAE, a unit of the world’s sixth-largest mobile operator, after his Alfa Group sold out of a Russian oil producer for $14 billion.
A law that will cancel a 10 percent acquisitions tax in Egypt will be announced before Altimo’s purchase of outstanding Orascom Telecom Holding SAE shares, according to the head of the Arab nation’s clearing house.
Billionaire Mikhail Fridman’s Alfa Group said it’s ready to trump lender VTB Group’s bid for Tele2 AB’s mobile-phone assets in Russia and is considering a takeover of the entire Swedish telecommunications company.
OAO Mobile TeleSystems, Russia’s largest wireless carrier, plans to fight the purchase of Tele2 AB’s local unit by a state-run lender and may invite competitor OAO MegaFon to divvy up the assets if its counterbid prevails.
Vodka seller Central European Distribution Corp., headed by Russian billionaire Roustam Tariko, will seek court approval of its so-called prepackaged restructuring plan just over a month after filing for bankruptcy.