By Olga Razumovskaya

MOSCOW--Altimo, a subsidiary of conglomerate Alfa Group Russia, said Friday that it has increased its voting stake in VimpelCom Ltd (VIP) to 41.9% shares from 40.5%.

Between Aug. 17 and Oct. 4 the company has purchased 27.2 million shares worth $273.8 million.

Altimo has been in dispute with Nordic Telenor (TEL.OS) over reaching parity in VimpelCom.

"We have bought the shares on market price on the market," Evgeny Dumalkin, vice-president at Altimo said without specifying who the shares had been purchased from.

Write to Olga Razumovskaya olga.razumovskaya@dowjones.com

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