Moscow Court Sets Date for Hearing of Lawsuit Filed by Russian FAS Against Deal That Raised Telenor ASA's Stake in Vimpelcom Ltd-Reuters

Reuters reported that the Moscow Arbitration Court has set the date of November 27, 2012 for a hearing of a lawsuit filed by Russia's competition watchdog FAS to overturn a February 2012 deal that lifted Norwegian group Telenor ASA's stake in telecoms operator Vimpelcom Ltd. The lawsuit, filed by FAS in April 2012, highlighted the years-long dispute between Telenor and its Russian co-investor in Vimpelcom, Mikhail Fridman's Altimo, over control and strategy of Vimpelcom. FAS, concerned with the dominant position of a foreign state-controlled firm in Vimpelcom whose Russian unit is considered a strategic asset by the government, announced in October 2012 it could withdraw the lawsuit if Telenor and Altimo resolve their differences and reach equal ownership in Vimpelcom. The court held the preliminary hearing of the lawsuit on October 17, 2012.