Usmanov to purchase Megafon

Alisher Usmanov plans to purchase Megafon by buying shares from TeliaSonera and Altimo (part of the Alfa Group), Interfax reports.

Usmanov’s AF-Telecom Holding will buy 8% of Megafon shares from TeliaSonera for $1.45 billion by purchasing a share in Telecominvest and 10.7% from Altimo for $1.61 billion.

14.4% of Altimo’s shares will be purchased by AF-Telecom’s subsidiary in the Cyprus for $2.16 billion.

Altimo holds 25.1% of shares of Megafon and will sell them all. TeliaSonera will own 35.6% of shares, AF-Telecom will own 50% plus one share. Its subsidiary will hold 14.4% of shares.