Russian billionaire Gleb Fetisov has reportedly sold most of his assets, including a 14.17% stake in telecoms investment firm Altimo, which owns significant stakes in VimpelCom and Turkcell.
Fetisov told reporters on the sidelines of a political event…
Russian billionaire Gleb Fetisov has reportedly sold most of his assets, including a 14.17% stake in telecoms investment firm Altimo, which owns significant stakes in VimpelCom and Turkcell.
Fetisov told reporters on the sidelines of a political event that the transaction took place in December, Forbes’ Russian publication reported. The deal was said to have been motivated by Fetisov’s move into politics.
Altimo, part of oligarch Mikhail Fridman’s Alfa group, is Russia-focused VimpelCom’s largest shareholder with a 47.85% voting stake. Altimo also has a 13.22% stake in Turkish mobile operator Turkcell.
Altimo claims that the market capitalisation of its assets totals more than US$15bn, which would value Fetisov’s 14.17% stake at US$2.13bn. However, the report suggested the stake was likely sold for about US$1.6bn.
Altimo was not immediately available for comment, while VimpelCom declined to comment.
