Telenor Rejects Altimo's Advances

June 2006 | Company News Alert

In the latest twist of the on-going saga between Norwegian telecoms group Telenor and Russian industrial investor Alfa Group, Telenor has rejected the suggestion of a partial merger with Alfa's telecoms arm Altimo. Speaking on Norwegian television on June 23, Telenor's head of Russian operations Kjell-Morten Johnsen said that it was 'highly unlikely' that Telenor would agree to Altimo's proposal. The Russian company had suggested that Telenor combine its assets in emerging markets - in Russia, Ukraine, Thailand, Bangladesh, Pakistan, Malaysia and Montenegro - with

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