Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Usmanov Seeks Yota Control

Alisher Usmanov may trade a part of his stake in the country’s No.2 mobile phone operator MegaFon for control in next-generation telecoms provider Yota, Vedomosti reported Tuesday.

The deal would be subject to Usmanov’s purchase of 25.1 percent in MegaFon from tycoon Mikhail Fridman, which would see Usmanov raise his stake to a controlling 56.2 percent from 31.1 percent.

He is already in talks with Yota owners Telconet Capital and Russian Technologies about swapping shares in MegaFon for a stake, the newspaper said. Yota, the former WiMax operator, owns frequencies for the next-generation high-speed mobile technology LTE (Long Term Evolution), also known as 4G. 

(Reuters)