Telenor remains committed to VimpelCom Ltd. following vote in Special General Meeting
(Thomson Reuters ONE) -
(Fornebu, 17 March 2011) Following the decision in VimpelCom Ltd.'s Special
General Meeting of shareholders, approving the creation and issuance of new
shares in connection with the Wind Telecom transaction, Telenor reconfirms its
continued commitment to the future prosperity of VimpelCom.
"Telenor acknowledges that a majority of the shareholders, as expected, have
decided to carry out the acquisition. That said, we note that almost 60 per cent
of the unaffiliated shareholders voted against the proposed resolutions, leading
to a narrow, overall margin of victory for the supporters of the deal. In
particular, if Altimo's additional voting rights (through the preferred shares
it holds) are excluded, a clear majority of 51.5 per cent of the total economic
interests in VimpelCom said no to the deal," said Telenor Group spokesman Dag
Melgaard.
"Even though we believe VimpelCom would have been better off without this deal,
we will now continue to work in the best interest of VimpelCom and its
shareholders, as well as to help ensure that management eventually deliver
positive results from both the existing and the newly acquired operations," said
Melgaard.
Telenor will continue to pursue its arbitration proceedings in London to secure
the pre-emptive rights it was deprived of as a result of the Wind transaction.
"We remain confident that we will prevail in the arbitration and that our pre-
emptive rights will be properly reinstated," said Melgaard.
Contact
Dag Melgaard, Communication Manager, Telenor Group.
Tel.: (+47) 901 92 000, e-mail: dag.melgaard(at)telenor.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Telenor via Thomson Reuters ONE
[HUG#1497688]
Unternehmensinformation / Kurzprofil:
Datum: 17.03.2011 - 11:02 Uhr
Sprache: Deutsch
News-ID 52524
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