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.
Alberta is pressing the Canadian government to allow input and give clarity on rules banning foreign takeovers in the oil sands by state-owned companies, more than a year after the restrictions were announced.
A walk through Moscow reveals the threats to Western companies of Iran-style sanctions on Russia: Renault cars fill the streets, Zara and Louis Vuitton shops pull in consumers and Carlsberg A/S brews the beer of choice.
From his 33rd-floor penthouse apartment with sweeping views of the Nile River, Naguib Sawiris, Egypt’s best-known billionaire and most prominent Christian, can hear the chants of Friday prayers in the distance. As he sits down to a breakfast of taameya and ful, dishes made from fava beans, demonstrators are gathering in Cairo’s Tahrir Square for a planned protest, this time aimed at stopping military trials of thousands of civilians arrested during the revolution that brought down the regime of President Hosni Mubarak.
VimpelCom Ltd, a wireless operator controlled by Russian billionaire Mikhail Fridman, reported a fourth-quarter loss after writing down its Ukraine assets by $2.1 billion because of the country’s political turmoil.
The Italian government would welcome Naguib Sawiris as Telecom Italia SpA’s main shareholder should the Egyptian billionaire invest in the phone company, Economic Development Deputy Minister Antonio Catricala said.