Mikhail Fridman

German chemicals giant BASF has agreed to merge its Wintershall oil and gas unit with the DEA energy firm owned by Russia’s billionaire entrepreneur Mikhail Fridman.

Russian billionaire Mikhail Fridman has bought British health food retailer Holland & Barrett for 1.8 billion ($2.3 billion, 2.0 billion euros), his investment fund said on June 26 .

Turkey's largest mobile phone operator Turkcell's annual general meeting on May 25 approved the distribution of a three billion lira ($841 million) dividend, a company official has told Reuters.

The company stated on May 24 that shareholders of Turkcell Holding, which holds 51 percent of Turkcell, agreed to propose the three billion lira dividend.

Turkish holding company Çukurova did not declare an intent to buy a 13.22 percent stake in Turkcell from Russia's Alfa Telecom by a Nov. 18 court deadline, a source close to the matter told Reuters on Nov. 21. 

"No declaration was made by the Friday (deadline). Now in line with the court decision, the option of buying has moved to Alfa," the source said. 

Russian bank VTB said late on Nov. 7 it had reached an agreement with Alfa Group about a joint investment in Turkey's top mobile operator Turkcell.

The announcement comes ahead of a mid-November deadline for Russian billionaire Mikhail Fridman and Turkcell's founder Mehmet Emin Karamehmet to resolve a dispute over control of the Turkish company.

A possible ruling in favor of Turkey's Çukurova Holding by a U.K.-based arbitration court has played a significant role in a recent decision by the company's Russian partner in Turkcell, Alfa Telecom, about selling its Turkcell stakes, sources told daily Hürriyet. 

Ziraat Bank is expected to play a key role in the transaction, added sources.  

Russia's Alfa Telecom said on March 25 it was ready to sell a 13.22 percent indirect stake in Turkcell to Turkey's Çukurova and Ziraat Bank for a total of around $2.7 billion, according to a statement to the Istanbul stock exchange.

Russia?s Alfa Telecom has applied to Turkey?s Competition Board to take indirect control of leading Turkish mobile phone operator Turkcell from Çukurova Holding, the latest step in a long-running battle for control of the company.

Alfa Bank, the Russian lender that boasts billionaire Mikhail Fridman as its largest shareholder, is shutting its New York capital markets office and cutting headcount in London, but the staff cuts will not extend to Alfa?s bank in Cyprus, which employs 40.

[Bloomberg]