Megafon targeted by Russian state telco, Svyazinvest

www.WirelessFederation.com/news: The state telecoms holding company Svyazinvest has shown its interest in buying mobile operator Megafon. Talks with Alisher Usmanov, owner of a 31.1 percent stake in Megafon are underway. The state is also interested in the blocking stake held by Alfa, part of Russian group Altimo.

Reorganization of Svyazinvest was approved by a government commission in May 2009. Since then, the purchase of a mobile operator to strengthen its operations is on the cards. Even AF Telecom Holding, managing Usmanov’s stake in Megafon, has expressed interest in cooperating with Svyazinvest. 31.1 percent stake in Megafon has been offered by the company in a joint venture created by Svyazinvest.

According to Russian minister of communications, Igor Shchegolev, the government would need to buy shares from Megafon’s other major shareholders, Altimo or TeliaSonera, but neither is willing to lower their stakes in Megafon. The Altimo and TeliaSonera deal needs approval by the Government Commission on Foreign Investments headed by the Prime Minister Vladimir Putin.