Alfa Group, the Russain conglomerate that owns Moscow-based Alfa Bank, has been embroiled in a second legal row this month over its ownership of mobile telephone companies, after a rival slammed a Ukrainian court ruling in Alfa's favour as "outrageous".

The Ukrainian district court overturned an August ruling from the International Court of Arbitration ordering Storm, a telecoms subsidiary of Alfa Group, to reduce its holdings in competing mobile operators in Ukraine.