Tuesday, September 20, 2005
Vimpelcom says Telenor should accept URS decision
19/09/2005 ; Alfa Telecom MD says vote was taken in accordance to Russian law
Story: Telenor, the Norwegian telecom company, would not be able to stop Russian counterpart Vimpelcom from acquiring Ukrainian mobile operator URS, according to Aftenposten.
The paper cited the managing director at Russia's Alfa Telecom, which also owns shares in Vimpelcom via its owner Alfa Group. Alfa´s Aleksej Reznikovitsj said that Vimpelcom´s board could no longer decide on this issue and that Wednesday´s vote at Vimpelcom´s general assembly was final. The paper reported that several Vimpelcom board members agreed with this and its chairman David Haines had expressed his irritation over the fact that Telenor could not accept the result of the vote.
Reznikovitsj said that Telenor´s statements were just a public exercise, and that Vimpelcom had done everything according to the law. Reznikovitsj also said that even if Telenor decided to take action, it would not be able to do so until the transaction was concluded, as Russian law would not stop a decision until it had actually occurred.
Source: aftenposten
Value: $200m (price of URS)
Story: Telenor, the Norwegian telecom company, would not be able to stop Russian counterpart Vimpelcom from acquiring Ukrainian mobile operator URS, according to Aftenposten.
The paper cited the managing director at Russia's Alfa Telecom, which also owns shares in Vimpelcom via its owner Alfa Group. Alfa´s Aleksej Reznikovitsj said that Vimpelcom´s board could no longer decide on this issue and that Wednesday´s vote at Vimpelcom´s general assembly was final. The paper reported that several Vimpelcom board members agreed with this and its chairman David Haines had expressed his irritation over the fact that Telenor could not accept the result of the vote.
Reznikovitsj said that Telenor´s statements were just a public exercise, and that Vimpelcom had done everything according to the law. Reznikovitsj also said that even if Telenor decided to take action, it would not be able to do so until the transaction was concluded, as Russian law would not stop a decision until it had actually occurred.
Source: aftenposten
Value: $200m (price of URS)
