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MegaFon seeks loan to buy Alfa stake
18 April 2012
Russian operator MegaFon looks for $2-$3 billion loan to buy its 25.1% stake from Alfa Group
Russian operator MegaFon is seeking a $2-3 billion loan to help fund the acquisition of its 25.1% stake from Alfa Group, the privately-owned investment group founded by Mikhail Fridman, according to reports.
Alfa Group intends to sell its stake to another Russian businessman, Alisher Usmanov, who owns 31.13% of MegaFon and is considering an IPO, reports Russian newspaper Vedomosti.
Possible lenders are said to include Russia’s Sberbank and state-controlled VTB. MegaFon is discussing with banks the issue of bids to refinance the loan, according to the report.
Recent reports suggested Usmanov was looking to sell a part of his stake in MegaFon to acquire control of 4G operator Yota, and was discussing the exchange of some MegaFon shares with Yota investors Telconet Capital and state company Russian Technologies. The deal would raise Usmanov’s stake in MegaFon from 31.1% to 56.2%, with the acquisition of an additional 25.1% from Alfa Group’s investment unit Altimo. GTB
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