Deals
Billionaire Fridman Offers to Buy All of Orascom Telecom
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Russian billionaire Mikhail Fridman offered to buy all of Orascom Telecom Holding SAE, the Egyptian cellular company majority owned by Russia’s VimpelCom Ltd., which he controls.
Fridman’s Altimo is offering 70 cents a share for Cairo-based Orascom, the Egyptian Financial Supervisory Authority said today, valuing the company at about $3.67 billion. Altimo owns about 47.9 percent in VimpelCom, which in turn owns about 51.7 percent of Orascom.