VimpelCom's announced provisions increases Telenor's concerns
(Thomson Reuters ONE) -
(Fornebu 3 November 2015) Telenor Group notes that VimpelCom Ltd. in a press
release on 3 November 2015 has announced that they will make a provision of USD
900 million in their third quarter financial statements for a resolution of the
investigations into VimpelCom's business in Uzbekistan and prior dealings with
Takilant.
On 14 March 2014 VimpelCom announced that the company was under investigation by
US and Dutch authorities for its operations in Uzbekistan. Telenor Group has
status as witness in these investigations, and has cooperated with the
investigating authorities. As a witness, Telenor has shared all requested
information, and interviews have been conducted with relevant persons in
Telenor.
Telenor Group sees VimpelComs announcement today as a serious development that
significantly increases our concerns in relation to the potential outcome of the
still ongoing investigations.
Telenor Group has a financial participation with an economic stake of 33 per
cent in VimpelCom. In its financial reporting, Telenor includes VimpelCom as an
associated company.
Contact:
Severin Roald
SVP and Head of Group Communications
Telenor Group
Mobile: +47 920 30 033
severin.roald(at)telenor.com
Glenn Mandelid
Vice President Communications
Mobile: +47 926 61 300
glenn.mandelid(at)telenor.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1963539]
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2015 - 07:31 Uhr
Sprache: Deutsch
News-ID 431312
Anzahl Zeichen: 2032
contact information:
Town:
OSLO
Kategorie:
Business News
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