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The Kremlin’s venture capital firm is investing $1 billion in everything from online shopping avatars to breast cancer screening tools as the world’s largest energy exporter tries to diversify its economy.
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Yandex NV sank the most in two weeks in New York on concern a new law allowing Russia’s government to block access to websites will deter advertisers from the nation’s most-used search engine.
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Russian billionaire Mikhail Fridman’s Altimo agreed to increase its voting stake in mobile- phone operator VimpelCom Ltd. to 47.9 percent by buying shares from Ukrainian billionaire Viktor Pinchuk.
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Telenor ASA, the biggest shareholder in VimpelCom Ltd., wants the mobile-phone provider to shun acquisitions in favor of boosting operational efficiency and improving its presence in emerging markets.
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Telenor ASA , the Nordic region’s largest phone company, asked for the dispute over VimpelCom Ltd .’s purchase of Egyptian billionaire Naguib Sawiris ’s phone assets to be referred to a court of arbitration.
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VimpelCom Ltd. fell from the highest level in almost two weeks in the U.S. as Telenor ASA moved to boost its stake, escalating its conflict with the Russian regulator and investors for control of the mobile phone company.
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Bearish bets on VimpelCom Ltd., the world’s sixth-biggest mobile phone company, reached the most expensive level this year after a conflict between shareholders and Russian authorities intensified.
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Telenor ASA, the Nordic countries’ biggest phone operator, said a dispute with Russian regulators about ownership of VimpelCom Ltd. will end after billionaire Mikhail Fridman’s Altimo boosted its stake in the world’s sixth- biggest mobile phone company.
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VimpelCom Ltd .’s board approved the purchase of Egyptian billionaire Naguib Sawiris ’s phone assets for a lowered total of $6.5 billion, overriding shareholder Telenor ASA’s opposition to the deal.
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Telenor ASA, the largest shareholder in mobile-phone provider VimpelCom Ltd., is “happy” fellow investor Altimo is also intent on forming a new board for the company, spokesman Dag Melgaard said.