Altimo investee companies operate in Russia, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Bangladesh, Georgia, Turkey; it holds stakes in VimpelCom, MegaFon, Kyivstar, and Turkcell.
[1] Since its formation in 2004, Altimo has been involved in numerous conflicts with all its main partners in each of the four companies which form the backbone of its investments.
[2] In November 2005, Altimo acquired a 13.2% stake in Turkcell, the largest Turkish mobile phone operator.
In July 2007, Altimo and the Bermuda-based IPOC International Growth Fund, which was closely associated with Jeffrey Galmond and Leonid Reiman, settled their disputes agreeing to Altimo's ownership of the 25% stake in MegaFon that was previously held by Leonid Rozhetskin's LV Finance.
[8] In April 2010 it was reported that "Altimo" package of MegaFon shares was pledged by Vnesheconombank.