Altimo

Source: Wikipedia, the free encyclopedia.
Altimo
Company typePrivate
Industry
Private Equity
PredecessorAlfa
Founded2004; 20 years ago (2004)
HeadquartersMoscow, Russia
London, England
Key people
Alexey M. Reznikovich, CEO
Total assets$35 billion
Websitewww.altimo.org and [1]

Altimo (alt. Alfa Telecom International Mobile) is the telecommunications investment arm of Russia's

VimpelCom, MegaFon, Kyivstar, and Turkcell. Together, Altimo's investee companies have more than 150 million mobile phone subscribers.[citation needed] . Altimo Holdings & Investments Ltd. is a British Virgin Islands company. A majority of its shares are owned by CTF Holdings, a Gibraltar limited liability company, whose sole shareholder is Crown Finance Foundation, a Liechtenstein foundation.[1]

Since its formation in 2004, Altimo has been involved in numerous conflicts with all its main partners in each of the four companies which form the backbone of its investments. These conflicts have resulted in what

United States District Court, Southern District of New York described as a "brazen history of collusive and vexatious litigation . . . used to avoid compliance with their legal obligations".[2]

In November 2005, Altimo acquired a 13.2% stake in

TeliaSonera, the other major shareholder in Turkcell. Altimo was also engaged in a dispute with TeliaSonera over MegaFon
at the time of this transaction.

In July 2007, Altimo and the Bermuda-based IPOC International Growth Fund, which was closely associated with Jeffrey Galmond and Leonid Reiman, settled their disputes agreeing to Altimo's ownership of the 25% stake in MegaFon that was previously held by Leonid Rozhetskin's LV Finance.[3][4][5][6][7]

Altimo's efforts (2008) to expand into India met with a rebuff when the home ministry observed that Altimo and its parent company, Alpha, have a "tainted background".[8]

In April 2010 it was reported that "Altimo" package of

Vimpelcom Ltd.[9]

References

  1. ^ "sc_13da.htm". sec.gov.
  2. ^ Guy Chazan, "Telecoms case shows Fridman’s taste for combat", Financial Times (March 5, 2015). Retrieved 21 July 2016.
  3. ^ Walsh, Conal (6 December 2003). "Western investors worry as Russian writs fly: The rights of foreign shareholders are at stake in a Moscow courtroom in a case that can only get nastier - and more entertaining". The Guardian. Retrieved 18 March 2020.
  4. ^ Knapp, Michael C.; Knapp, Carol A. (January–June 2016). "Duplicity and Diligence: An Ethical Forensic Case Study of International Espionage" (PDF). Journal of Forensic and Investigative Accounting. pp. 272–283. Retrieved 16 March 2020.
  5. ^ "Interview With Altimo CEO, Alexey Reznikovich". Cision. Barcelona. 12 February 2008. Archived from the original on 29 June 2018. Retrieved 18 March 2020 – via Dow Jones Newswires.
  6. ^ Middleton, James (30 July 2007). "Altimo vs. Ipoc: it's all over". telecom.com. Retrieved 18 March 2020.
  7. ^ "Russia's Altimo says MegaFon dispute resolved". Reuters. 30 November 2007. Retrieved 18 March 2020.
  8. ^ Joji Thomas Philip, "Russian telco Altimo's past to haunt India plans", The Economic Times (Aug 12, 2008). Retrieved 21 July 2016.
  9. Ведомости
    № 76 (2594), 28 апреля 2010

External links


See also

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