Altimo minority shareholder Fetisov calls for liquidating company, sharing out assets
MOSCOW. March 21 (Interfax) - Altimo, which manages the telecommunications assets of Alfa Group, would be liquidated and its assets distributed among shareholders under a proposal from Gleb Fetisov, the owner of 14.16% of Altimo shares.
"In my view, the fund's mission and goals have been fully met: it should be liquidated and its assets shared out," Fetisov told the business daily Vedomosti.
Altimo's assets would be distributed to shareholders in proportion to their holdings, Fetisov said.
"Going forward it would be better to develop through an operating company: Vimpelcom , MegaFon . It's time to break up and perhaps unite around a new idea. I would be quite happy to unite with the same shareholders in a fund in some other industry," he said.
"The issue must be decided by all the shareholders," he said.
Altimo owns 44.7% of voting shares in Vimpelcom Ltd and 25.1% in MegaFon. It also controls 13.22% in Turkcell.
Fetisov is the largest minority shareholder in Altimo. The majority shareholder is Alfa Group parent company CTF Holdings, which controls all the group's assets through a string of offshore companies. Altimo's chief beneficiaries are Mikhail Fridman, German Khan and Alexei Kuzmichev, with a combined stake of 72.77%.
Peter Aven, the president and co-owner of Alfa Bank , is the second biggest minority shareholder in Altimo. The other Altimo minorities are: Alfa Bank co-owner and the founder of Pamplona Capital Management Alex Knaster, former Alfa Bank executive Alexander Tolchinsky, and the chairman of the board of directors of Alfa Asset Management the consultative committee of Altimo Andrei Kosogov, who owns 4.08% of shares in Alfa Bank.
RTS$#&: ALFB, MEGF, VIMP