Telenor Dispute Over in 2012

By The Moscow Times

May 25, 2011

Telenor expects arbitration hearings aimed at securing its shareholder rights in mobile operator VimpelCom to conclude in the first half of next year, the Norwegian group said Wednesday.

"In the early part of June the key hearing will begin," said Ole Bjorn Sjulstad, head of Telenor Russia, adding that he expected a decision in the first half of 2012.

Telenor started the proceedings to avoid a dilution of its stake in VimpelCom as part of the Russian company's cash-and-shares deal to buy the telecom assets of Egyptian businessman Naguib Sawiris.

Telenor's stake in the enlarged company fall from 36 percent to just over 25 percent after the $6 billion-plus deal.

(Reuters)

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