Reuters logo
Russia's Altimo says makes offer for Orascom
April 16, 2013 / 8:06 AM / 4 years ago

Russia's Altimo says makes offer for Orascom

MOSCOW, April 16 (Reuters) - 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 offer.

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below