Usmanov Tightens Grip Over MegaFon in Wireless Growth Bet - Bloomberg:
"Billionaire Alisher Usmanov tightened his grip over OAO MegaFon (MFON) by boosting his stake in a holding company that controls the second-biggest Russian wireless carrier, betting on continued growth in mobile-data demand.
Garsdale, an investment vehicle that controls MegaFon, bought 13.5 percent of its own shares from the founders of Scartel, a data carrier recently purchased by MegaFon, Usmanov’s investment firm USM Holdings said in an e-mailed statement. The transaction boosts USM’s stake in Garsdale to about 95 percent from 82 percent, according to data compiled by Bloomberg. Garsdale owns just over 50 percent of Moscow-based MegaFon.
Usmanov competes with fellow billionaires Mikhail Fridman, who controls VimpelCom Ltd. (VIP), and Vladimir Evtushenkov, who controls OAO Mobile TeleSystems (MBT), as consumers in Russia increasingly browse the Web on their mobile phones. MegaFon completed its purchase of Scartel this month, gaining a faster, so-called fourth-generation network."
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