Russian minister of communications Igor Shchegolev declared that the state telecoms holding company Svyazinvest is interested in buying mobile operator Megafon, Vedomosti report. Talks with the owner of a 31.1 percent stake in Megafon, Alisher Usmanov, are underway, but the state is interested also in the blocking stake held by Alfa, part of Russian group Altimo. In May 2009 a government commission approved a reorganization of Svyazinvest, and since then the company has been considering the purchase of a mobile oeprator to strenthen its operarions. Shchegolev believes that an alliance with Megafon is the most logical, since Svyazinvest would immediately take third place in the mobile market, while Megafon will gain access to a fixed-line infrastructure. AF Telecom Holding, which manages Usmanov's stake in Megafon, has expressed interest in cooperating with Svyazinvest. The company offered to exchange its 31.1 percent in Megafon for a stake in a joint venture created by Svyazinvest. Shchyogolev said that various typs of transaction are possible. However, the state wants any holding in Megafon secure. According to the minister, a blocking stake is not enough, and the state needs control. The government would need to buy shares from Megafon's othe rmajor shareholders, Altimo or TeliaSonera, but neither is willing to lower their stakes in Megafon. Altimo and TeliaSonera have agreed to create a joint venture company that would manage their respective shares in Megafon and Turkish operator Turkcell. Usmanov refused the proposal, claiming that the alliance would not bring benefits either to him or to Megafon. The Altimo and TeliaSonera deal needs approval by the Government Commission on Foreign Investments headed by the Prime Minister Vladimir Putin.
