Alfa Group, the Russian investment vehicle owned by billionaire Mikhail Fridman, has ignited a fresh war of words with Weather Investments and Telenor, its fellow shareholders in international telecoms group Vimpelcom. In a filing with the US Securities and Exchange Commission (SEC), Vimpelcom has revealed that Altimo, Alfa’s telecoms arm, has accused its counterparts of violating the group’s by-laws in connection with Telenor’s 15 February purchase of 234 million preferred shares from Weather, and the agreements entered into between the two parties in connection therewith. *Altimo claims that Telenor and Weather violated the provisions contained in Section 16 of the company’s by-laws, by not commencing a mandatory tender offer (MTO) as a result of the ‘Preferred Share Transactions’
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OVETEL Take the Weather with you? Altimo accuses fellow shareholders of share violation
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