Alfa Group eyes USD1bn-plus telco deals in Europe following sale of oil firm

3 Jun 2014

Alfa Group, the Russian conglomerate owned by billionaire Mikhail Fridman, is said to be looking at telecoms deals worth ‘USD1 billion plus’, with Europe its key area of focus. According to the Moscow Times, Alfa Group is flush with cash from last year’s sale of its USD14 billion stake in TNK-BP to state-backed Rosneft. Alexei Reznikovich, the chief executive of Fridman’s Letter One Telecom management firm, told the newspaper: ‘We think that Europe is currently most attractive because of the consolidation processes that are gathering strength there … The time is right [to invest] … We are looking at Russia and southeast Asia, too, but we think that Europe is the most obvious candidate given the sector’s development’. Reznikovich noted that the company is interested in up to five possible acquisition targets, although he declined to name names.

Via its Altimo unit, Alfa currently holds a 56.2% equity share in Amsterdam-based international telecoms group Vimpelcom Ltd. It remains to be seen whether Fridman seeks to integrate any potential acquisitions with Vimpelcom.

Russia, Vimpelcom Ltd, Altimo (part of the Alfa Group),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share