Spain’s Prosecution Service considers attempt of Fridman’s structures to buy ZWW to be raiding
With that, the founder of Alfa-Group denies the fact that he had gone after the mobile services’ developer.
Spanish prosecutor for anti-corruption Jose Grinda Gonzalez believes that the Russian tycoon Mikhail Fridman violated a law, having attempted to buy the mobile services’ developer Zed World Wide (ZWW) in 2016. This is being reported by Financial Times with reference to the court documents.
In the documents, Gonzalez calls the actions of Fridman’s structures a “raider attack.” The businessman denies the fact that he had gone after the mobile services’ developer, as well as the fact he had controlled companies suspected of illegal activities by the prosecutor.
Gonzalez, in his turn, notes that Fridman used a contract between ZWW and Vimpelcom (now - VEON) and tried to clench a bargain related to the purchase at an understated price. The contract made more than 40 per cent of profit for ZWW.
Then, the businessman played a key role in ZWW bankruptcy procedure, as he was handling the situation “as one of the creditors.” It is about Amsterdam Trade Bank controlled by Alfa-Group. Amsterdam Trade Bank is a participant of a syndicated loan earlier acquired by ZWW.
Now, Fridman must appear in court in October. Besides that, the businessman’s representative states that the allegations are baseless and the claims will be withdrawn, as soon as Fridman provides his arguments.