Russian Federal Antimonopoly Service files claim against Telenor in Russia seeking to invalidate Telenor's purchase of VimpelCom shares from Weather Investments
(Thomson Reuters ONE) -
(Fornebu - 19 April 2012) Telenor has learned the Federal Antimonopoly Service
of the Russian Federation (FAS) filed a claim in the Moscow Arbitrazh Court, the
principal commercial court in Moscow, against Telenor East Holding II AS and
Weather Investments II S.à.r.l. The companies OJSC VimpelCom, OOO Altimo,
VimpelCom Ltd., VimpelCom Holdings B.V. and Altimo Cooperatief U.A. are named in
the claim as interested third parties. Telenor has not yet been formally
notified of the Claim by the FAS or the Court.
Telenor understands the FAS has alleged that the share purchase and option
transactions that Telenor and Weather Investments entered into on 15 February
2012 violated the Russian Strategic Investment Law and requests the court to
invalidate those transactions, require Telenor to return the VimpelCom Ltd.
shares it acquired to Weather Investments and require Telenor, VimpelCom Ltd.
and Altimo to enter into a new shareholders agreement with substantially the
same terms as the VimpelCom shareholders agreement terminated by Altimo last
year.
Telenor has learned that the FAS also filed an application with the Moscow
Arbitrazh Court requesting that, prior to the Court reaching a decision on the
merits of the FAS's claim, the Court issue an injunction that would (a) prevent
VimpelCom Ltd. and VimpelCom Holdings B.V. from voting their shares in OJSC
VimpelCom, (b) prevent Telenor East and Weather II (as shareholders of VimpelCom
Ltd.) from changing the governing bodies of VimpelCom Ltd. (i.e., the VimpelCom
Ltd. board), and (c) prevent Telenor East and Weather II from exercising their
rights under the option agreement.
"We believe we have fully complied with the Strategic Investment Law as it has
been interpreted and applied to date," said Telenor spokesman Dag Melgaard. "In
addition, we have provided the FAS with all of the information it has
requested. There has not been any change of control in VimpelCom, nor is there
any agreement between Telenor and Weather Investments concerning control of
VimpelCom. We are open to a dialogue with the FAS, but we will defend Telenor's
position using all available remedies under applicable law and treaties."
"Furthermore, Telenor is within the ownership range it has been before. The
transaction with Weather Investments reestablished the balance of shareholder
interest which existed before Telenor's ownership was diluted as a result of the
Wind Telecom transaction," said Dag Melgaard.
On 15 February 2012, Telenor purchased 234 million VimpelCom preferred shares
from Weather Investments for USD 374.4 million, thereby increasing Telenor's
voting share in VimpelCom Ltd. to 36.36%, subject to adjustment arising under
certain put and call arrangements.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.
Source: Telenor via Thomson Reuters ONE
[HUG#1603963]
Unternehmensinformation / Kurzprofil:
Datum: 19.04.2012 - 08:21 Uhr
Sprache: Deutsch
News-ID 136850
Anzahl Zeichen: 3570
contact information:
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Kategorie:
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