Thursday, September 15, 2005
VimpelCom shareholders vote in favour of URS takeover
15/09/2005
Story: VimpelCom yesterday, Wednesday, saw its shareholders' extraordinary general meeting approve a potential acquisition of the Ukrainian mobile firm, Ukrainian Radio Systems (URS), the Russian press reported.
VimpelCom is a Russian mobile player, in which the largest shareholders are Telenor, the Norwegian telecom firm, and Alfa Group, the Russian investment company.
Kommersant, which referred to VimpelCom’s announcement, reported that 51.2% of VimpelCom shareholders supported the bid. Cited by the paper, Alfa-Telecom general director, Alexey Reznikovich, suggested that the results of the voting give VimpelCom the opportunity to freely grow in the Ukraine.
Telenor, which opposes the deal, regards the voting as not valid and wants to block the URS deal at a 16 September meeting of VimpelCom board of directors, said Telenor’s vice-president, Dag Melgard.
Telenor warned that the decision of VimpelCom's EGM could be annulled by the Russian court, reported Vedomosti.
According to an agreement between VimpelCom and URS’s owners, VimpelCom will pay USD 206.5m for URS, both papers reported.
Source: Kommersant, Vedomosti, Moscow Times
Value: $206m (URS deal value)
Story: VimpelCom yesterday, Wednesday, saw its shareholders' extraordinary general meeting approve a potential acquisition of the Ukrainian mobile firm, Ukrainian Radio Systems (URS), the Russian press reported.
VimpelCom is a Russian mobile player, in which the largest shareholders are Telenor, the Norwegian telecom firm, and Alfa Group, the Russian investment company.
Kommersant, which referred to VimpelCom’s announcement, reported that 51.2% of VimpelCom shareholders supported the bid. Cited by the paper, Alfa-Telecom general director, Alexey Reznikovich, suggested that the results of the voting give VimpelCom the opportunity to freely grow in the Ukraine.
Telenor, which opposes the deal, regards the voting as not valid and wants to block the URS deal at a 16 September meeting of VimpelCom board of directors, said Telenor’s vice-president, Dag Melgard.
Telenor warned that the decision of VimpelCom's EGM could be annulled by the Russian court, reported Vedomosti.
According to an agreement between VimpelCom and URS’s owners, VimpelCom will pay USD 206.5m for URS, both papers reported.
Source: Kommersant, Vedomosti, Moscow Times
Value: $206m (URS deal value)
