MegaFon stake frozen

Caribbean-based investment fund IPOC has obtained an injunction from a St Petersberg Court, preventing Russian conglomerate the Alfa Group (Altimo) from selling its 25 per cent stake in Russian cellco MegaFon.

IPOC has contested Alfa’s purchase of the 25 per cent stake since the transaction took place in 2003.

IPOC insists it had pre-emptive rights to buy the holding in MegaFon, and that Alfa entered into an illegitimate deal whilst in possession of this information.

Tags: MegaFon, Russia

This entry was posted on April 29th, 2006 and is filed under Brands. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.