Mega Fon - Owners and Management

Owners and Management

The Company was founded by the largest foreign investors: Sonera (Finland), Telia International AB (Sweden) now merged into TeliaSonera, along with Telenor Invest AS (Norway). Telecom equipment was purchased from Nokia.

The owners of the Company as of March 2011 are as follows:

  • TeliaSonera – owns 35.6% shares directly and 8.2% through Telecominvest;
  • AF Telecom (owner – Alisher Usmanov) owns - 8% shares directly and 23.1% through Telecominvest;
  • Altimo (owner – Alfa Group) owns - 25.1%.

Jeffrey Galmond, a Danish lawyer publicly claims to own and control Telecominvest, but it is rumored to in fact represent the personal interests of former Russian telecommunications minister Leonid Reiman.

A battle for control of the company is ongoing between Alfa Group and Jeffrey Galmond's party.

Unlike other companies from the Big Three, MegaFon is not a public company, therefore it does not have to disclose all the information on the Company’s business (for example: it does not publish quarterly reports of the issuer of securities).

References: Helsingin Sanomat, March 28, 2006 (requires subscription)

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