Vodafone denies report of tie-up talks with Altimo

By : |November 2, 2006 0

LONDON:   Vodafone Group denied a report that Altimo, the telecoms arm of Russia’s powerful Alfa Group conglomerate, was in talks with the British firm about a possible 15 billion pound ($28.61 billion) tie-up.

"We are not in any sort of negotiations," a spokesman for the mobile phone company said on Wednesday night.

He was referring to an article in Thursday’s edition of the Times that said Altimo had approached Vodafone with a view to either a joint venture or a form of merger as it seeks to grow outside Europe.

The Russian company was ideally seeking a 20 percent stake in Vodafone, the newspaper reported, without citing sources.

Last week, Altimo Senior Vice President Roger de Bazelaire told Reuters that the firm was in talks with international telecommunications majors, including Vodafone, about a possible merger or partnership.

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