Cukurova Holding AS, owned by Turkish billionaire Mehmet Emin Karamehmet, is seeking a loan of about $1.6 billion to recover a disputed 13.8 percent stake in Turkey’s biggest mobile-phone operator from Russia’s Alfa Group, two people with knowledge of the matter said.
Turkish billionaire Mehmet Emin Karamehmet is pushing ahead with plans to reclaim a stake in the nation’s top mobile-phone company from Russia’s Mikhail Fridman, tapping into a loan market showing signs of recovery.
OAO MegaFon, Russia’s second- largest mobile-phone operator, will pay owners TeliaSonera AB, AF Telecom and Altimo $5.15 billion in dividends and pursue an initial public offering in London, ending a governance dispute.
Russia’s Alfa Group plans to buy 28 percent of Regal Petroleum Plc, an oil and gas producer with natural-gas assets in Ukraine, Kommersant-Ukraine newspaper reported, citing Mikhail Khabarov, the president of investment company A1, a division of Alfa Group.
Cukurova Holding AS must pay $1.56 billion to recover a disputed 13.7 percent stake in Turkey’s biggest mobile-phone operator from Russian Alfa Group, raising investors’ hopes for a payout of unpaid dividends between 2010 and 2012.
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.
Cukurova Holding AS lost its bid to overturn a court order to pay about $1 billion to TeliaSonera AB in a dispute over shares in Turkcell Holding AS, the owner of Turkey’s biggest mobile-phone provider.