Oleg Malis, who is the senior vice president at Altimo, may face a new task – the transfer of Russia’s telecom assets into the stocks of European firms.
Photo: Alexander Miridonov
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Afla Group to Bargain with Telenor
Spokesmen of Norwegian Telenor announced Friday they got an offer of Alfa Group to consolidate telecom assets in the developing countries. Kjell-Morten Jonsen, who heads Russia’s office of Telenor, promised to consider the definite suggestions. The analysts speculate this move of Alfa Group shows it is willing to dispose of the telecom business in Russia by converting the assets into the stocks of big telecom companies of Europe.
Asked to comment on Jonsen’s statement, Kirill Babayev, PR vice president at Altimo, said yesterday: “Now we are choosing a strategic partner for joint development of business on emerging markets. Considering Telenor as one of potential partners is quite natural.”
Telenor owns from 56 percent to 80 percent in cellular companies of six developing countries, including Pakistan (Pakistan Telenor), Thailand (DTAC), Malaysia (DIGI), Bangladesh (GrameenPhone), Ukraine (Kievstar), Montenegro (Promonte). The assets are worth around $10 billion on aggregate, according to iKS-Consulting.
Via Altimo Holding, Alfa Group owns 32.9 percent in VimpelCom (where Telenor has 26.6 percent), 25.1 percent in MegaFon (Russia, Tadjikistan), 30 percent in Golden Telecom (Russia, Ukraine, Kazakhstan, Uzbekistan), 43 percent in Kievstar, 13.2 percent in Turkish Turkcell. The asset worth is around $9 billion, market analysts estimate.
But what assets of Alfa could actually lure Telenor into consolidation? The choice is not very wide. Kievstar, VimpelCom and Golden Telecom are in joint holding already, and Telenor will hardly be interested in minor stakes in Turkcell and the challenged stake in MegaFon. So, it is not just that Alfa is heading for consolidation with Norwegian holding, the analysts speculate. It is rather probing into Telenor before selling the telecom business.
The intention to sell is quite possible, said a source familiar with the plans of Alfa and Altimo. Last year, Alfa was negotiating the swap with Sweden-Norwegian TeliaSonera, but the latter preferred to stay away from the most hostile player of Russia’s telecom market.
www.kommersant.com
All the Article in Russian as of June 26, 2006
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