Mikhail Fridman and his partners are buying up telecommunications business in the EU and the USA

    According to the Financial Times, Mikhail Fridman, a member of the supervisory board of the Alfa Group consortium and VimpelCom, a member of the board of the Russian Union of Industrialists and Entrepreneurs, intends to invest in EU and US telecommunications and technology assets. The amount of investments will be $ 16 billion.

    Friedman and his partners in London created the investment group LetterOne Technology (L1 Technology), whose supervisory board includes Brent Hoberman (co-founder of Lastminute.com), Denis O'Brien (Irish telecommunications entrepreneur), Osama Bedier ( former Google top manager), Russ Shaw (former Skype top manager) and Sir Julian Horn-Smith (co-founder of Vodafone).

    L1 Technology will receive a 48% stake in Vimpelcom, owned by Friedman and his Russian partners. In addition, the group will be given a 13% stake in the Turkish company Turkcell. In monetary terms, these assets amount to $ 14 billion.

    According to Alexei Reznikovich, CEO of L1Technology, the group will invest in companies from various fields: from traditional telecommunication groups to Internet companies that stream data.

    “We are not looking for a new Google. The companies acquired by us will benefit from our significant experience, as well as gain access to our customer base, which has more than 200 million users that our mobile operators already have, ”said Reznikovich.

    From his words, it also follows that L1Technology has no loans and therefore will be able to increase its funds to $ 25 billion. He believes that today the telecommunications sector is too “old-fashioned” and needs reforms. “You have to break with the past in order to make money for investors,” Reznikovich explains.

    Meanwhile, the dispute between the British government and Friedman over the L1Energy deal with the German concern RWE over the acquisition of the DEA oil and gas division for 5.1 billion euros, which was completed in early March , continues . L1Energy acquired part of the fields in the North Sea, which account for up to 5% of gas produced by the UK. If anti-Russian sanctions intensify, gas production in the fields may be stopped, which is absolutely not beneficial for London.

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