Telenor, Alfa close to Vimpelcom merger deal-paper

Fri Jun 26, 2009 2:42am EDT

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MOSCOW, June 26 (Reuters) - Norway's Telenor (TEL.OL) is close to an agreement with its Russian partner, the Alfa Group, to merge their Russian and Ukrainian mobile telecoms businesses, Vimpelcom VIP.N and Kyivstar, Vedomosti newspaper said on Friday.

The paper cited two managers -- one from each side -- close to the conflict.

A merger deal, proposed by the Russian side, would end a five-year boardroom war between Telenor and its Russian partners which has weighed on the share prices of both Vimpelcom and Telenor.

(Reporting by Anastasia Teterevleva and Melissa Akin; Editing by Greg Mahlich)

((melissa.akin@reuters.com; +7 495 775 1242)) Keywords: TELENOR RUSSIA/

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