Russian billionaire Mikhail Fridman is getting some help from European Central Bank Chairman Mario Draghi in his efforts to salvage VimpelCom Ltd.’s investment in Italian mobile-phone service Wind Telecomunicazioni SpA.
VimpelCom Ltd. is facing criminal investigation over its Uzbek business a year after the carrier warned investors about its relationship with Takilant Ltd., a company that is the focus of a corruption probe at Swedish rival TeliaSonera AB. The stock fell to a 19-month low.
Russian billionaire Mikhail Fridman is poised to win a majority of board seats at VimpelCom Ltd. after his stake in the mobile-phone company overtook that of investor Telenor ASA, analysts at Renaissance Capital said.
VimpelCom Ltd., the wireless carrier controlled by Russian billionaire Mikhail Fridman, climbed on speculation the company will sell or merge its Italian subsidiary Wind Telecomunicazioni SpA and cut debt.
Gerard Kleisterlee , chief executive officer of Royal Philips Electronics NV, is the frontrunner among candidates being considered for the post of chairman at Vodafone Group Plc, the Financial Times reported, citing people familiar with the situation. Vodafone has drawn up a shortlist of three people to succeed John Bond , the FT said.
Vodafone Group Plc will name Gerard Kleisterlee , chief executive officer of Royal Philips Electronics NV , as the mobile-phone company’s next chairman within the next four days, the Sunday Telegraph reported, citing unidentified people close to the company.
Russian authorities are trying to settle a dispute with Telenor ASA by October involving the company’s purchase of a stake in VimpelCom Ltd., Vedomosti newspaper reported, citing Igor Artemyev, head of the Federal Anti-Monopoly Service.
Algeria agreed to pay $6.5 billion to buy the controlling stake in Djezzy, VimpelCom Ltd.’s Algerian mobile phone unit, Reuters reported today, citing an unidentified finance ministry official in the North African Nation.