06 April 2015

LetterOne Technology launches in London

London, Monday 06 April, 2015: The LetterOne Group, the international investment firm with total assets of around $29 billion, today announced the launch of LetterOne Technology (L1T), a London-based vehicle focused on investment in global telecoms and technology businesses.

London, Monday 06 April, 2015: The LetterOne Group, the international investment firm with total assets of around $29 billion, today announced the launch of LetterOne Technology (L1T), a London-based vehicle focused on investment in global telecoms and technology businesses.

L1T, formerly LetterOne Telecom, manages a 47.85% voting stake in leading Russian operator Vimpelcom and 13.22% in Turkcell, Turkey’s main network, and is seeking to grow its portfolio of mobile businesses, whilst adding digital services that complement its existing networks.

 The company has a $16billion fund and is targeting three main areas for new acquisitions:   

  1. Existing mobile telecoms businesses – turnaround of distressed and/or underperforming assets.
  2. Adjacencies in infrastructure – complementary forms of network infrastructure such as data centres and signal towers.
  3. Adjacencies in digital – internet-based companies such as apps and streaming services, which can join forces with L1T’s existing mobile assets and benefit from its substantial user base.

Alexey Reznikovich, CEO and Managing Partner of LetterOne Technology, said: “the launch of LetterOne Technology is a reflection of the company’s expansion into digital systems which are already revolutionising global telecoms business. New acquisitions will benefit from our significant expertise in these markets, and will gain access to our existing customer base, which numbers over 200million across existing networks.”

Along with the launch of its new brand. L1T has also announced the addition of a number of leading industry names to its esteemed advisory board. Among them includes:

Osama Bedier

Osama Bedier is Founder and Chief Executive of Poynt, a wirelessly-connected, open-platform payments terminal that works with existing registers. He is also a board director of WePay, an online payment service provider in the US; Qiwi, a leading provider of next generation payment services in Russia and the CIS; and an investor and advisor at Coin Inc, the digital credit card that holds a wallet full of cards. Osama was formerly Vice President of Wallet and Payments at Google, and held the position of Vice President of Product Development at PayPal from 2002 to 2011.

Since then, he has held multiple engineering and product development management responsibilities including next generation eBay re-Architecture, International Product development, Merchant Services Technology, and most recently all product development. Prior to PayPal, Osama ran technology for CoolCast, Inc., served as Senior Manager of e-Commerce at Gateway, and managed a web team at AT&T.

Brent Hoberman

Brent Hoberman is chairman/co-founder of made.com, a direct-from-factory consumer crowd-sourced homewares retailer in the UK. Brent also co-founded lastminute.com in April 1998 and was CEO from its inception. In 2006 Brent co-founded Founders Forum, the premier community for global entrepreneurs, chief executive officers, and investors in the digital, media and technology sectors and in 2009 he co-founded PROfounders Capital, a venture capital fund for entrepreneurs.

Brent is a non-executive director of Guardian Media Group, one of the UK's leading media organisations; TalkTalk plc, provider of pay television, telecommunications, internet access, and mobile network services in the UK; and Shazam Entertainment Ltd, a music mobile application.

Brent also sits on the UK Government Digital Advisory Board, is a YGL, Prime Minister's Business Trade Ambassador and a Fellow (Governor) of Eton College. Brent was awarded a CBE in the 2015 New Year's Honour's List for his services to entrepreneurship.

Sir Julian Horn-Smith

Sir Julian Horn-Smith was a member of the founding management team of Vodafone Group Plc and is considered to be one of the principal architects in the development of Vodafone’s International Strategy. He retired from the Vodafone Board in July 2006, when he held the title Deputy Chief Executive Officer.

Sir Julian remains in the global telecom sector as a Senior Advisor to UBS Investment Bank, in London, Senior Advisor to CVC (Telecoms and Media), a Member of the boards of Digicel (the leading Caribbean and Pacific Operator) and VimpelCom Ltd. and advisor to the board and Chairman of Etisalat Group. Sir Julian has previously served as a Director on a number of company boards, including; Lloyds Banking Group plc, Smiths Group, China Mobile, eAccess in Japan, De la Rue plc, Verizon Wireless, SFR in France and Chair of both the Mannesmann Supervisory Management Boards. Sir Julian has a directorship at Martin Dawes Systems (a software company).

He is a Pro Chancellor at Bath University and chairs the University’s School of Management Advisory Board. He is a Trustee for the Hope for Tomorrow Charity and is the Founder and Co-Chair of The TATLIDiL Conference (British and Turkish Conference). In 2004 he received a knighthood in the Queen's Birthday Honours List for his services to international telecommunications.

Denis O’Brien

Denis O’Brien founded Esat Telecom Group, which established itself as the number two telecommunications company across the full spectrum of telecommunications services. Esat Telecom Group plc was sold to British Telecom Group plc in January 2000. Denis was voted Ireland’s Entrepreneur of the Year in 1998. Following the sale of Esat, Denis founded Digicel in 2000.

Digicel now operates mobile, cable and fibre optic networks in 32 countries in the Caribbean, Central America and Asia Pacific regions. Denis is also a director of a number of private companies including China HR, Siteserv PLC, Quinta do Lago SA, Topaz Energy Group Limited and Communicorp Group Limited. In addition, Denis is the Chairman and Co-Founder of Frontline, the International Foundation for the Protection of Human Rights Defenders and a member of the board of Concern Worldwide USA. In June 2011 Denis received the National Order of Honour and Merit from the President of Haiti, Michel Martelly.

Russ Shaw

Russ Shaw is currently a non-executive director Dialog, a publicly traded semiconductor company; and Unwire, a Danish, venture-backed mobile commerce and digital wallet business. He is also a limited partner in Ariadne Capital’s ACE Fund, Vitruvian Partners Fund and an investor in and advisor to Amazing Media Group. He is also on the Advisory Board of E2Exchange. Russ has been a member of the Tech City Advisory Group, a mentor for The Marketing Academy, and a volunteer for Spear (helping disadvantaged youth find employment). He has been a member of the Marketing Group of Great Britain since 2005 and was its Chairman for the 2011-12 season. Previously, Russ was Vice President & General Manager at Skype, focusing on Europe, Middle East and Africa and also establishing and running Skype’s Mobile Division.

Before Skype, Russ was at Telefonica, where he was the Global Innovation Director. Prior to this role, he was with Telefonica’s O2 mobile business, as Chief Marketing Officer, responsible for initiatives such as The O2 venue in London. Before joining O2, Russ was the CEO of Mobileway, a venture-capital backed start-up sold to Sybase, and previously Managing Director at NTL (now Virgin Media). Russ is the Founder of Tech London Advocates, a group of leaders promoting London's technology sector.

Notes to editors:

The LetterOne Group is a global investment firm focused on the oil and gas and telecommunications sectors.

  • Founded in June 2013, LetterOne was born from the disposal of a 25% stake in TNK-BP to Rosneft in March 2013.
  • The LetterOne Group is comprised of two main investment vehicles: LetterOne Technology, and L1 Energy, which is focused on opportunities in the global oil and gas sector, and both supported by LetterOne Treasury operations.

For more information, please contact:

Simon Brocklebank-Fowler, Managing Partner, Cubitt Consulting
Email: SimonBF@cubitt.com
Tel: +44 (0)7919 332721

Dan Pickles, Consultant, Cubitt Consulting
Email: dan.pickles@cubitt.com
Tel: +44 (0)7810 524581

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