Russian Federal Antimonopoly Service Takes Positive View on Telenor ASA's Proposal for Reaching Equal Ownership in Vimpelcom-Reuters


Wednesday, 3 Oct 2012 07:39am EDT 

Reuters reported that Russia's Federal Antimonopoly Service (FAS) competition regulator announced that it is positive toward Telenor ASA's proposal to reach parity ownership in telecoms group Vimpelcom with Russian co-investor Altimo. Telenor suggested on October 1, 2012 that it and Altimo should buy and split a 6%-stake owned by Bertofan, an investment vehicle of Viktor Pinchuk, so the two would have equal voting power, as it raised its Vimpelcom stake to 43% against Altimo's 40.5%. Parity ownership is seen as a key condition of an out-of-court settlement of a lawsuit brought by FAS earlier in 2012 to contest Telenor's dominant position in Vimpelcom. The first court hearing into the merit of the case is scheduled for October 17, 2012. 

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