Support The Moscow Times!

Altimo to Shed Part of Stake

Alfa Group unit Altimo said it plans to sell about 6 percent of mobile operator VimpelCom, though not to fellow shareholders Telenor ASA and Egyptian investor Naguib Sawiris.

"We believe there must be a balance of forces so that all the shareholders can be on about the same level," Altimo chief executive Alexei Reznikovich said Wednesday.

Altimo owns 31 percent of the voting rights at VimpelCom, and cutting that to less than 25 percent would trigger the cancellation of a shareholder agreement with Telenor that is no longer good for the company, Reznikovich said.

(Bloomberg)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more