LetterOne Telecom has USD 16bn for acquisitions in US, Europe
LetterOne Telecom, the London-based investment platform, has USD 16bn to invest in telecoms and internet technology businesses in the US and Europe, the Financial Times reported.
Part of the LetterOne Group (the investment vehicle founded by MIkhail Fridman) LetterOne Telecom will use technology to transform existing business practice, the unit's Chief Executive Alexey Reznikovich was cited as saying. With a debt-free balance sheet, LetterOne Telecom would leverage up to USD 25bn, Reznikovich said.
LetterOne Telecom targets companies operating in a range of business areas including traditional telecommunications, Reznikovich noted. App makers and companies offering streaming services are also of potential interest, he added.
Financial Times