Merger of Russian and Turkish cell phone companies illegal

The arbitration tribunal in Moscow has called the agreement between TaliaSonera and Altimo, on the creation of a new company by uniting their shares in "Megafon" and Turkcell, as illegal, RAPSI reports.

The Swedish-Finnish company TeliaSonera and Atimo, which governs the telecommunicational assets of Alpha-group, announced their merger in November 2009.