Connect to share and comment

Shares of Russian companies traded in US plummet as tensions rise over Ukraine crisis

NEW YORK, N.Y. - Shares of Russian companies traded in the U.S. are plummeted Monday as the country's military forces streamed into Ukraine, raising the possibility of sanctions by Western governments. U.S. Secretary of State John Kerry told Russian President Vladimir Putin that he may "find himself with asset freezes on Russian business." There are also talks of boycotting the Group of Eight summit of leaders in the Olympic host city of Sochi this summer.

Russian bidders offer up to $4.25 billion for Tele2 assets

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.

Telenor speeds up investments as profits soar

Norwegian telecom operator Telenor on Wednesday posted a 32-percent rise in 2012 profits and said it would increase its investment pace this year, primarily in the lucrative data traffic sector. "We now see the opportunity to accelerate investments to capture market positions and expect a (capital expenditure to sales ratio) in the range of 12-14 percent," chief executive Jon Fredrik Baksaas said. In 2012, the operator spent about 12.1 percent of sales on investments, excluding licence and spectrum acquisitions.
Syndicate content