Alfa Group News
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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.
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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.
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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.
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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.
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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.
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X5 Retail Group NV declined after sales growth slowed, opening the way for OAO Magnit to overtake it as Russia’s biggest retailer by revenue.
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Philip McDonagh, Ireland’s ambassador to Russia, said recovering assets related to the Quinn family may help trade relations between the two nations.
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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.
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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.
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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.
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