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Norway/Russia: Federal antitrust agency’s conflict with Telenor

By  |  September 25, 2012

The conflict between the federal antitrust authority and the Norwegian Telenor over its interest in VimpelCom Ltd, controls the major Russian telecommunications provider VimpelCom, is not likely to be resolved before the end of September. In February, Telenor acquired shares in VimpelCom from Weather Investments II, controlled by Egyptian businessman Naguib Sawiris, and increased its voting stake in the holding company first from 25.01 to 36 percent, and then to 39.5 percent. The watchdog challenged the transaction, and said the only way to resolve the conflict would be to distribute the shares in the company equally among the Russian and foreign shareholders. 

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