MOSCOW, April 16 Russian billionaire Mikhail
Fridman's Altimo on Tuesday confirmed that a subsidiary has
offered to buy 100 percent of Egypt's Orascom Telecom,
while part-owner Vimpelcom will not tender its shares in the
Egypt's stock exchange said in March that the Cyprus-based
firm owned by Altimo offered $0.70 per share for all of Orascom
Telecom's 5.245 billion shares.
Cairo-based Orascom Telecom, a heavyweight on the Egyptian
Stock Exchange, is controlled by Russia's Vimpelcom,
which together with subsidiaries owns 51.92 percent. Altimo owns
47.85 percent of Vimpelcom.