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Talks over Vimpelcom's Djezzy at delicate stage: source

May 22, 2013 09:46
MOSCOW/CAIRO (Reuters) - Russia-focused telecoms firm Vimpelcom's talks to sell a controlling stake in its Algerian mobile business Djezzy to Algeria are at a delicate stage but have not failed, a source with knowledge of the discussions said on Wednesday. Algeria wants to nationalize Djezzy and has pushed Vimpelcom into discussing a sale of a 51 percent stake. A report by Dow Jones earlier said that talks had ended in failure, citing two officials close to the matter.

MTN says U.S. ruling a "positive" in Iran suit defence

April 18, 2013 08:01
JOHANNESBURG (Reuters) - The chief executive of South African telecom MTN Group on Thursday hailed a U.S. Supreme Court ruling as a major boost to its defence against a $4.2 billion (2.7 billion pounds) lawsuit from rival Turkcell. "It's definitely a positive for our case," Sifiso Dabengwa told Reuters in a telephone interview on Thursday. Turkcell is suing MTN, Africa's biggest mobile phone company, in a U.S. federal court using a 224-year-old law.

Bidding war erupts for Russian mobile operator

March 28, 2013 16:46
Swedish telecoms operator Tele2 on Thursday announced it had agreed to sell its Russian subsidiary to Russian state bank VTB, but competitors said they could make a better offer. Tele2 said earlier it has agreed to sell Tele2 Russia, Russia's fourth mobile operator, to VTB in a cash transaction comprising $2.4 billion in equity value and $1.1 billion in net debt. It said the sale of Tele2 Russia is expected to close shortly but the Alfa group of Russian billionaire Mikhail Fridman immediately contested the terms.

Russian bidders offer up to $4.25 billion for Tele2 assets

March 28, 2013 14:30
By Megan Davies and Maria Kiselyova MOSCOW (Reuters) - Russian mobile companies MTS and Vimpelcom Ltd joined the bidders for Tele2 AB's Russian unit on Thursday, rivalling a proposal by billionaire Mikhail Fridman's A1 investment group and an agreed deal with VTB Bank OAO. MTS and Vimpelcom are offering to buy the asset for $4.0 billion (2.6 billion pounds) 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.

Sweden's Tele2 exits Russian mobile market

March 27, 2013 14:45
By Simon Johnson and Megan Davies STOCKHOLM/MOSCOW (Reuters) - Nordic telecoms company Tele2 said on Wednesday it would sell its Russian operations to bank VTB Group in a $3.5 billion (2.3 billion pounds) 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.

UK court hears final arguments in Turkcell shareholder row

March 4, 2013 13:45
ISTANBUL, March 4 (Reuters) - A British court heard final arguments from Turkey's Cukurova Holding and Russian partner Altimo on Monday over a disputed controlling stake in Turkey's largest mobile phone operator Turkcell, with a verdict expected in the coming weeks. Altimo appropriated the 13.8 percent Turkcell stake, which carries controlling rights, after Cukurova defaulted on a $1.35 billion loan in 2005. Cukurova had put the stake up as collateral for the loan.

UK court ruling unlikely to draw line under Turkcell row

February 27, 2013 11:45
* UK Privy Council set to rule on March 4 * Cukurova determined to recover stake * Could liquidate assets including Genel Energy * Altimo likely to remain a shareholder By Asli Kandemir ISTANBUL, Feb 27 (Reuters) - A British court ruling next week which could help the Turkish co-founder of Turkcell recover a controlling stake may do little to end a boardroom dispute that has hobbled the firm for years.

UPDATE 2-Turkish tycoon gets chance to recover Turkcell stake

January 30, 2013 13:15
* Court gives Turkcell co-founder right to recover stake * Says Cukurova defaulted on 2005 loan * Dispute has hobbled Turkcell's development * Shares fall as dividend payments still seen blocked By Estelle Shirbon LONDON, Jan 30 (Reuters) - One of Turkey's richest men has the right to recover a disputed stake in Turkcell, a British court ruled, throwing him a lifeline in a battle for control of the mobile phone operator with Russian partner Altimo.
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