MOSCOW, April 4 (Reuters) – Investors may be puzzled why
billionaire Mikhail Fridman seemed to be bidding against himself
for a telecoms company that is no longer for sale.
Fridman is linked with two bids for the Russian unit of
Nordic operator Tele2 – one from his A1 vehicle and
the other, at a higher price, from MTS and Vimpelcom
, in which he is a leading investor.
STOCKHOLM/MOSCOW, April 2 (Reuters) – Nordic telecom
operator Tele2 defended a decision to sell its
Russian unit for $3.5 billion and spurn a higher offer from one
of Russia’s wealthiest businessmen.
The deal with state-controlled bank VTB was
followed swiftly by counterbids from groups associated with
tycoon Mikhail Fridman, but Tele2 said the deal was already
done, prompting speculation that the Kremlin may have dictated
MOSCOW (Reuters) – Russia’s top mobile operator MTS (MBT.N: Quote, Profile, Research, Stock Buzz) on Monday urged Tele2 (TEL2b.ST: Quote, Profile, Research, Stock Buzz) to start talks over the Nordic operator’s Russian asset after making a bid of up to $4.25 billion, and said it was strange for management to ignore such an offer.
MTS joined with rival Vimpelcom Ltd (VIP.N: Quote, Profile, Research, Stock Buzz), part-owned by billionaire Mikhail Fridman, to bid for Tele2′s Russian unit on Thursday, topping a lower bid by Fridman’s A1 investment group and an agreed deal with state-controlled bank VTB (VTBR.MM: Quote, Profile, Research, Stock Buzz).
MOSCOW (Reuters) – Russian mobile companies MTS (MBT.N: Quote, Profile, Research, Stock Buzz) and Vimpelcom Ltd (VIP.N: Quote, Profile, Research, Stock Buzz) joined the bidders for Tele2 AB’s (TEL2b.ST: Quote, Profile, Research, Stock Buzz) Russian unit on Thursday, rivaling a proposal by billionaire Mikhail Fridman’s A1 investment group and an agreed deal with VTB Bank OAO (VTBR.MM: Quote, Profile, Research, Stock Buzz).
MTS and Vimpelcom are offering to buy the asset for $4.0 billion to $4.25 billion, including $1.15 billion of net debt, they said late on Thursday, claiming their bid was at a premium of up to 30 percent over the agreed deal with VTB.
MOSCOW/STOCKHOLM, March 28 (Reuters) – Russian billionaire
Mikhail Fridman is ready to trump state bank VTB’s
deal to buy Tele2′s Russian division and is
considering an offer for the whole of the Nordic telecoms group.
Fridman’s investment partnership A1 said on Thursday it was
prepared to make an all-cash bid of $3.6-$4 billion for Tele2′s
Russian arm, which would top an agreed sale to VTB that puts an
enterprise value, or equity plus debt, on the business of $3.5
STOCKHOLM/MOSCOW, March 27 (Reuters) – Nordic telecoms
company Tele2 said on Wednesday it would sell its
Russian operations to bank VTB Group in a $3.5 billion
deal that could ease competition in the market.
Tele2 has been rumoured for some time to be considering a
sale of the Russian unit as it does not have a 3G or 4G license
in Russia and analysts have said that without the ability to
offer data services, its growth prospects were limited.
MOSCOW (Reuters) – Russian businesses and banks that face losses from the European Union’s bailout of Cyprus are considering legal action but may have a hard time making a case, say lawyers who are combing through treaties find strategies to recover funds.
Big depositors – many of them Russian – face losses of up to 40 percent as the result of a so-called ‘bail-in’ to back 10 billion euros ($13 billion) in EU financial aid to stabilize the Cypriot banking system.
MOSCOW (Reuters) – Russians responded angrily on Monday to the threat of a levy on bank deposits in Cyprus that could end the Mediterranean island’s appeal as a safe haven for their money and cost them billions of euros.
Russians have stashed away huge sums in Cyprus since the Soviet Union collapsed in 1991, making the most of low taxes and light regulation to keep their money safe and, in some cases, to launder it.
MOSCOW, March 13 (Reuters) – Russian railcar leasing company
Brunswick Rail will appoint a new CEO and a new board member as
it moves towards a possible London stock market float, senior
company officials said.
Vladimir Lelekov, who has run the company for seven years,
will step aside as CEO but stay on the board where he will focus
on mergers and acquisitions and organic growth of the company.
He will serve as acting CEO until a successor is appointed.
MOSCOW, Feb 25 (Reuters) – Russia-focused Renaissance
Capital is stripping down to become a pure-play investment bank,
and will sell off all non-core assets following its business
divorce from founder and pioneering banker Stephen Jennings, its
Confident of support from its new owner, Mikhail Prokhorov’s
Onexim Group, Renaissance Capital has completely separated from
the African-focused Renaissance Group from which it split in
November, CEOs John Hyman and Igor Vayn said in an interview.