TeliaSonera in talks over MegaFon
ISTANBUL- Hürriyet Daily NewsNordic telecoms giant TeliaSonera confirmed yesterday reports it was in talks with Moscow-based Altimo and AF Telecom over ownership of Russia’s second-largest mobile phone operator MegaFon. Privately-held MegaFon had 62.8 million subscribers at the end of 2011 but its future has been increasingly unclear as its various shareholders jostle for position.
A deal between Usmanov and Altimo would likely be a blow to TeliaSonera, which in 2009 had agreed with Altimo to merge their stakes in MegaFon as well as in Turkey’s Turkcell. TeliaSonera currently holds 43.8 percent of MegaFon -35.6 percent directly and 8.2 percent through a stake in another company, Telecominvest. AF Telecom owns 31.3 percent, Altimo owns 25.1 percent of MegaFon.