A1 Makes $4B Topping Offer For Tele2's Russian Unit

Law360, Los Angeles (March 28, 2013, 3:35 PM EDT) -- Alfa Group's trading company A1 said Thursday that Swedish telecom Tele2 AB's $3.5 billion deal to sell its Russian unit to VTB Bank was too low and ripe for lawsuits, offering to buy the unit for up to $4 billion.

A1's $3.6 billion to $4 billion offer would be payable in cash with no debt financing, the Russian company said in a statement. Tele2 announced Wednesday that it had agreed to sell Tele2 Russia to VTB Bank for $2.4 billion in cash and $1.15 billion in...
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