Weekly Vimpelcom boardroom update: Alfa withdraws suit against Telenor!

6 Jun 2005

Alfa Telcom has withdrawn a lawsuit against Telenor, its fellow shareholder in Russian cellco Vimpelcom, in a move that could signal the thawing of hostilities between the two companies. Alfa filed a suit against three Vimpelcom board members appointed by Telenor after they blocked a proposed takeover of Ukrainian Radio Systems, a minor operator in neighbouring Ukraine that offers services under the name WellCOM. Alfa says it continues to push for the acquisition of WellCOM, but is confident that the sale can be completed ‘in accordance with Vimpelcom’s corporate regulations’.