Ukraine court reduces Telenor’s rights in Kyivstar

31 Mar 2006

A Ukrainian court has ordered a reduction in Telenor’s rights on the board of the country’s mobile market leader Kyivstar. Under the ruling, the Norwegian telco, which owns 56.5% of the operator, would have equal rights with Russia’s Alfa Group, which controls the remaining 43.5%. Kyivstar’s shareholders have been in dispute over rights since late 2004 and have filed at least a dozen suits against each other. The cellco’s charter originally stated that Telenor appoints five board members and the chief executive officer while Alfa selects four board members. Telenor has already launched an appeal against the new ruling.

Ukraine, Kyivstar, Telenor Group