Please install Adobe Flash Player.

Consulting services

  • Market entry strategy
  • Business plan development
  • Strategy audit
  • Competitive intelligence
  • Product evaluation
  • Due diligence
  • Distributor / agent search

Research services

  • Market studies analysis / sizing and trends
  • Customer service / satisfaction surveys
  • Competitive positioning intelligence
  • Brand tracking
  • Advertising effectiveness research
  • Pricing research

Customers

  • National operators
  • International operators
  • Telecom vendors
  • Incumbents
  • New entrants
  • Governments

Telenor pays $374.4 million to raise stake in Russian firm to 36.4%

PDFPrintE-mail

Norwegian telecom operator Telenor ASA Wednesday said it has withdrawn all its claims against Altimo Holdings & Investments Ltd., Altimo Cooperatief and VimpelCom, after it purchased 234 million preferred shares in Russian carrier VimpelCom Ltd.

The deal takes Telenor's voting stake in the Vimpelcom to 36.4% from 25%. Telenor said it paid $374.4 million for the stake.

"This transaction takes Telenor to approximately the same voting position as a successful outcome of the arbitration process would have achieved, and is therefore a commercial solution we are happy with," Telenor Chief Executive Jon Fredrik Baksaas said in a statement.

"We will work to expand the VimpelCom board to 11 members. Together with the other shareholders we will continue our contribution to the industrial development of VimpelCom as we always have done".

The dispute between Telenor and Altimo, the telecoms arm of Russian conglomerate Alfa Group, began when Telenor last year opposed VimpelCom's stock-and-cash acquisition of Wind Telecom, which was controlled by Egyptian billionaire Naguib Sawiris.

Telenor said it acquired the 234 million shares in VimpelCom from Weather Investments II S.a.r.l., Sawiris's investment vehicle. Telenor said it and Weather have entered certain "put and call arrangements" regarding the remaining 71 million preferred shares in VimpelCom held by Weather.

The withdrawal of the arbitration claim will enable "a more normal corporate governance situation in VimpelCom," Telenor said, adding that it will result in the termination of the VimpelCom shareholders agreement.

"Together with the other shareholders we will continue our contribution to the industrial development of VimpelCom as we always have done," Baksaas said.

Latest News

30 May 2017

ChronoPay looks to kickstart bitcoin adoption in Russia

St.-Petersburg, May 30 (Hacked.com & CCN) ChronoPay, one of Russia’s oldest online payments providers, is including bitcoin to its payment gateway, enabling all of its clients to accept the...
Read more...
12 May 2017

Russia’s largest online retailer will accept Bitcoin despite Central Bank slapdown

St.-Petersburg, May 12 (Сryptocompare) Russian e-commerce giant Ulmart is planning to start accepting bitcoin as a method of payment from 1 September, 2017. The online retailer was considering accepting...
Read more...
23 December 2016

MegaFon to buy Mail.ru stake for $740 million from Usmanov

MOSCOW, Dec 23 (Bloomberg) Alisher Usmanov and his partners are set to pocket $740 million from moving a stake in internet company Mail.ru Group Ltd. to MegaFon PJSC, as the Russian billionaire consolidates...
Read more...
20 December 2016

Deloitte says 7% Russian cell clients change operators in H1

MOSCOW, Dec 20 (PRIME) -- About 7% of Russian mobile subscribers changed their operators in January–June as compared to 4–5% of users who switched to other operators within six months in several...
Read more...
Joomla Templates and Joomla Extensions by JoomlaVision.Com