[February 09, 2010] Alfa/TeliaSonera JV deal stumbles over Russia's approval Tweet (M&A Navigator Via Acquire Media NewsEdge) A deal between Russia's Alfa Group and Sweden's TeliaSonera (STO:TLSN) to tie up their stakes in Russian mobile operator Megafon and Turkey's Turkcell (IST:TCELL) is faced with obstacles in getting clearance from Russia. The Financial Times reported on Monday that the Russian government opposes the setting up of a 50/50 joint venture listed in New York, as it would give Alfa Group control over yet another of Russia's three major mobile operators. Alfa Group is also looking to merge its Russian and Ukrainian telecoms assets with those of Norway's Telenor (OSL:TEL). The Russian telecommunications ministry, on the other hand, appears keen to create a large state-owned telecomms through the merger of Megafon with state-controlled fixed-line operator Rostelekom (MCX:RTKMP). Igor Artemyev, the head of Russian anti-monopoly watchdog, said last month that Alfa could not pursue the deals with Telenor and TeliaSonera simultaneously. Alexei Reznikovich, Alfa Group's telecomms arm's chief executive, told the Financial Times in a recent interview, that Alfa Group would not seek approval on the TeliaSonera deal until settling a legal battle with Turkcell's third shareholder, Turkish businessman, Mehmet Emin Karamehmet. Country: Russia Sector: Telecommunications Type: JV Status: Agreed Comment: Deal stumbles on competition concerns for getting approval ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS [ Back To TMCnet.com's Homepage ]