Billionaire Alisher Usmanov has filed a lawsuit in a Moscow court to prevent TeliaSonera and Altimo from combining their stakes in Russia's third-largest mobile operator, MegaFon.
According to the web site of the Moscow Arbitration Court, the suit to nullify the deal was filed by Usmanov's vehicle Telekominvest against TeliaSonera and the Alfa Group unit on Tuesday.
Igor Tikhomirov, a spokesman for Usmanov, who holds a 31.1 percent stake in MegaFon, said: "Telekominvest has filed a lawsuit to the Moscow Arbitration Court in which it asks the court to prevent the creation of a joint venture between TeliaSonera and Altimo in Russian territory."
TeliaSonera and Altimo agreed to combine their stakes in MegaFon and Turkcell last year in a move to resolve a bitter dispute over ownership of the top Turkish operator and invited Usmanov to contribute his stake.
Usmanov rejected the invitation and said the merger would not contribute to the capitalization of MegaFon.
Altimo declined immediate comment on Wednesday.
Altimo holds 25.1 percent of the shares in MegaFon as well as 4.99 percent of Turkcell. TeliaSonera owns 37.3 percent of Turkcell and 43.8 percent of MegaFon.
TeliaSonera said it was not aware of any legal action and had no comment until it could confirm that such was the case.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
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 every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.