X5 Retail Group NV, appointed Olga Naumova, an executive with experience at industrial companies, to run Pyaterochka, the budget chain that accounts for two- thirds of revenue at Russia’s second-largest retailer.
VimpelCom Ltd. Chief Executive Officer Jo Lunder said the mobile carrier will stick to its Wind Telecomunicazioni SpA unit, keeping the Italian asset off limits to former owner Naguib Sawiris, the Egyptian billionaire who is seeking to re-enter the market.
VimpelCom Ltd., the wireless carrier owned by Russian billionaire Mikhail Fridman and Norway’s Telenor ASA, improved first-quarter profitability after adding users in former Soviet republics and Italy and cutting costs.
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.
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.
When Paul Heth showed up in Moscow after the Soviet Union disbanded, the former U.S. soldier had nothing more than $600 and a love of movies. Now he’s taking on some of Russia’s wealthiest men in a race for box office riches.
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.
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.
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.