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Investor ‘may trade’ MegaFon stake for Yota
11 April 2012
Russian investor Alisher Usmanov said to be in negotiations to swap MegaFon stake for control of Yota
Russian businessman Alisher Usmanov may sell a portion of his stake in mobile operator Megafon so that he can acquire control of 4G operator Yota, according to local news source Vedomosti, quoted by Reuters. Usmanov is said to be in negotiations with Yota investors Telconet Capital and state company Russian Technologies about exchanging a part of MegaFon shares for buying Yota.
This deal would see Usmanov’s stake in MegaFon rise from 31.1% to 56.2%, by purchasing an additional 25.1% from Altimo, the telecoms investment unit of Alfa Group.
According to Reuters, Usmanov's spokesperson and Altimo remained unavailable for comment and Russian Technologies refused to comment. GTB
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