Bobby Leach News
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OAO Mobile TeleSystems, Russia’s biggest mobile provider, is abandoning plans to challenge state- run VTB Group’s takeover of Tele2 AB’s local unit and will seek talks with the lender about consolidation in the industry, Chief Financial Officer Alexey Kornya said.
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Russia’s biggest telecommunications companies plunged on concern they risk losing market share should government-run OAO Rostelecom gain Tele2 AB’s business in the country.
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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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Canada’s wireless industry needs more foreign capital to support emerging challengers to the country’s established carriers, Industry Minister Christian Paradis said.
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Egypt’s benchmark equities index climbed the most in more than two months amid bets a court ruling that halted parliamentary elections would allow time for a resolution to the country’s political crisis.
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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.
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VimpelCom Ltd. is posting the biggest price swings on record versus peers as Russia’s third- largest mobile provider prepares to disclose investment strategy for the first time since resolving a shareholder conflict.
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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.
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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.
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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.
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