Altimo - a New Telecoms Investment Powerhouse Launched in London
01 Dec 2005
Altimo is launched on 1st December at a reception for London's financial and investment communities.
Altimo, formerly Alfa Telecom, is a major player in some of the world's most desirable and potentially lucrative mobile telecommunications markets. Altimo's new corporate identity and London launch reflect the company's western outlook and the determination of its new CEO, Alexey Reznikovich, to secure global partnerships in emerging Eurasian telecoms markets with major Western telecommunications companies seeking to gain a presence in the region.
This venture will be of particular interest to Western investors looking to capitalise on the dynamic, fast-moving growth opportunities of the emerging Eurasian telecoms markets.
Altimo Chief Executive, Alexey Reznikovich, said of the new company: "Altimo is the leading private equity investment firm in Russia and the CIS. My vision is to be the premier partner of choice for global telecoms companies seeking to venture into new and emerging markets across Eurasia. We will achieve this by sticking to our ethos of pursuing and creating value: in our investment, for our partners, and in the companies in which we invest."
Altimo's investment portfolio includes stakes in two of Russia's three largest mobile operators, VimpelCom and MegaFon; a stake in one of Ukraine's three largest mobile operators, Kyivstar, as well as holdings in Russia's fixed line operator, Golden Telecom. This week Altimo concluded a deal to acquire a 13.2% stake in Turkey's largest mobile operator, Turkcell.
Reznikovich added: "We are delighted to announce this acquisition which demonstrates our commitment to delivering high value growth in emerging markets in the CIS and throughout Eurasia. We are looking forward to working with our new partners to ensure that Turkcell fulfils its potential and delivers the best possible value."
The market capitalisation of Altimo's assets exceeds US$8 billion. The company's subscriber footprint totals 95 million across Russia and the CIS.
Altimo sees immense opportunities in the future for development in these markets. The Russian telecoms market alone is forecast to exceed $22 billion by the end of 2005 whilst the markets in the CIS and Eurasia remain underpenetrated and poised to develop rapidly.
Mobile subscriber rates in Russia alone will have risen from 40 million to 60 million this year and similar growth levels are predicted for the CIS and other emerging markets. Altimo is ideally placed to capitalise on this growth and deliver immense value to partners.
Reznikovich added: "I believe that a partnership between Altimo, with our expertise in telecoms investment in these markets, and a global telecoms company, with expertise in telecommunications operations, would be an immensely profitable partnership."
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