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As of 31 December 2013, LetterOne had $29 billion in assets under administration. In December 2005 Altimo also acquired a 13.2% interest in Turkcell, the largest telecoms company in Turkey. Alfa Group consolidated its telecom holdings as Alfa Telecom, and in 2005 renamed it Altimo. In the course of the crisis, Alfa-Financial institution used its holdings related to TNK to avoid a debt default, and was one of many few Russian banks at the time to proceed to permit buyer withdrawals. Finance Minister Adolfo de la Huerta signed a deal through which Mexico acknowledged a debt of $1.451 million to international bankers. In August 2016 LetterOne invested $50 million in telecommunications begin-up FreedomPop, to help finance its international enlargement. In 1997, Fridman had collaborated with Len Blavatnik and Viktor Vekselberg to purchase the state-owned TNK (Tyumen Oil Company), an oil company in Siberia, for $800 million. After the merger, TNK-BP became the third largest oil producer in Russia, and one of the highest 10 largest personal oil companies on the earth. The corporate grew to turn into considered one of the largest non-public banks in Russia. On three March 2015, L1 Power acquired the worldwide oil and gasoline company DEA from the German utility RWE for $7 billion (€5.1 billion).

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