Yury Kovalchuk was confirmed to had been considering a stake purchase of Tele2 Russia. Spokesman Alexander Karmaev told Bloomberg by email that the Russian billionaire was also thinking of selling part of the shares he currently holds in Sobinbank.

According to a Bloomberg report, Kovalchuk was an ally of President Vladimir Putin and could possibly use Tele2 Russia to expand his footprint in the telecommunications and media industry. Kovalchuk currently has a controlling stake in the National Media Group. He also co-owns CTC Media Inc together with the Stenbeck family, who had established Tele2.

Last week, two affiliates of Bank Rossiya asked for regulatory approval to purchase half of Tele2 Russia from the VTB Group. ZAO Raiffeisenbank estimated the purchase price to be around USD 1.5 billion. Russian newspaper Vedemosti also reported that should the acquisition push through, Tele2 Russia could be combined with the mobile unit of state-controlled firm OAO Rostelecom.

Meanwhile, Karmaev said it was possible for Bank Rossiya to develop a mobile bank by bringing new investors into its Sobinbank unit.