Alliance Capital announced in April that it had teamed up with Kazakh investment company Seimar to purchase Bitel.
But an economic court in the Kyrgyz capital Bishkek later annulled the deal and ordered the handing over of Bitel shares to Fellowes International Holdings Ltd, linked to Alfa.
"Today, Alliance Capital is the only lawful owner of Bitel," Bitel legal adviser Kanat Asylov told Reuters, citing the court ruling.
Asylov, who was present in court, said the arrest imposed on Bitel shares and property by a previous court ruling was lifted.
Alfa officials could not be immediately reached for comment.
Bitel's Asylov said he did not exclude that Alfa-affiliated structures might yet seek to overrule the decision in an international court.
"If one more lawsuit is to be considered, this must happen in Great Britain this time," he said.
Bitel is the only GSM-standard provider in the impoverished Central Asian nation of 5 million and is estimated to account for about 90 percent of its mobile phone users.
Alfa is a major shareholder in Vimpelcom, Russia's second-largest mobile phone company.