MegaFon, Russia's second largest mobile operator by subscribers,nannounced on April 18 that it has reached an agreement to borrownup to US$2bn from a group of banks. BMI believes that MegaFon isnlooking to buy back 25.1% of its stake from Altimo, thereby pavingnthe way for significant changes such as one of the largest telecomsninitial public offering (IPO) in emerging markets in 2012 or mergersnand acquisitions to boost its position in the Russian market.
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