MOSCOW, March 9 (RIA Novosti) -- Altimo telecoms (previously Alfa Telecom) has signed a deal with Deutsche Bank to buy 1,493,400 VimpelCom [RTS: VIMPG] ADRs, raising its stake in the Russian cell-phone company to 38.4% voting shares.
The company said the deal will be closed March 14.
Altimo currently holds a 32.9% interest in VimpelCom.
VimpelCom, majority owned by Norway's Telenor (26.6%) and Altimo, operates in 78 out of 88 regions in Russia under the Beeline trademark, as well as in the former Soviet republics of Ukraine, Uzbekistan, Kazakhstan, Tajikistan and Georgia.
VimpelCom is listed on the Russian Industrial Leaders Index (RUXX) - a composite economic index of 20 Russian companies with financial instruments (shares and depository receipts) placed on bourses, including the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX.
