In the dispute between Russian antitrust regulator FAS and Telenor over investments in Vimpelcom, the government commission on foreign investment, chaired by president Vladimir Putin, has expressed support for FAS’ view.
The government body also…
In the dispute between Russian antitrust regulator FAS and Telenor over investments in Vimpelcom, the government commission on foreign investment, chaired by president Vladimir Putin, has expressed support for FAS’ view.
The government body also supports the appeal to court by the antitrust regulator, FAS president Igor Artemyev said, according to Reuters.
As reported previously FAS alleges that Telenor’s 15 February purchase of 234 million Vimpelcom preferred shares from Weather II for US$374.4m violated Russian strategic investment law. The deal had increased Telenor’s voting rights to 36.36%. In a second transaction in mid April it further increased the voting rights to 39.51%.
Last week, the Moscow arbitration court imposed limitations on Telenor’s and Weather’s voting rights in Vimpelcom.
A first court hearing is scheduled for 17 October.
