MOSCOW/STOCKHOLM, March 28 The investment arm of
Russian billionaire Mikhail Fridman is prepared to make a
counter offer to buy the Russia telecoms business of Sweden's
Tele2 for $3.6-$4 billion, it said in a statement on
The move rivals a bid from Russian bank VTB.
Nordic telecoms company Tele2 said on Wednesday it would sell
its Russian operations to VTB for an enterprise value of $3.5
Tele2 said the deal comprised $2.4 billion in equity and
$1.15 billion in net debt.
The investment arm of billionaire Fridman's empire said that
it was ready to make an all-cash bid with no debt financing.
A1 said it is also interested and willing to agree to a
purchase price for the remaining assets of Tele2 over "a very
short period of time".
Fridman is flush with cash after recently closing a deal
alongside three other tycoons to sell their one-half stake in
oil producer TNK-BP to Rosneft for $28 billion.
The tycoon, worth $16.5 billion according to Forbes
magazine, also owns a stake in Russia's third biggest telecoms
Tele2 was not immediately available for comment.