Russia's largest wireless carrier is now preparing the plan to fight the sale of Tele2 AB to VTB, state owned financial institution. The plan of OAO Mobile Telesystems is to invite its rival OAO MegaFon with the plan to share in the proceeds if the bid is accepted.
According to Michael Hecker, Vice President for Strategy at MTS, "We do believe there is room to put the VTB deal on hold and persuade Tele2 leadership to consider our offer, which is financially superior." The top shareholder of MTS is another billionaire tycoon, Vladimir Evtushnekov.
Mikhail Fridman, another Russian tycoon, through is investment arm Alfa Group together with MTS offered as much as US$4.25 billion for Tele2 Russia. The bid was also to counter the tabled offer by the VTB Group, the eventual buyers which priced the firm at US$3.55 billion. The plan is to merge Tele2 Russia with the state backed OAS Tostelecom to become the fourth wireless carrier in the country.
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