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Russia: Mobile leader wants to prevent state from buying local unit

By  |  April 1, 2013

Russia’s largest mobile operator has made its motives clear in trying to stop a state lender from buying Tele2 AB’s local unit. According to an executive from OAO Mobile TeleSystems, the company would like to prevent the deal that would land Tele2 Russia in the hands of VTB Group, arguing that OAO Mobile TeleSystems’ offer is “financially superior.” The company is offering up to $4.25 billion along with VimpelCom Ltd. VTB Group is offering $3.55 billion. VTB announced that the deal has already been solidified, and that their offer is now legally bound. The parties are now awaiting Russia’s Federal Anti-Monopoly Service’s approval. Reports say that if OAO Mobile TeleSystems can win the fight for Tele2 AB, assets would be divided up with OAO MegaFon.

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