Another court rejects Telenor suit over Vimpelcom’s URS buy

26 Jun 2007

Moscow’s Ninth Appellate Arbitration Court yesterday ruled in favour of Russian cellco Vimpelcom in its ongoing legal battle with its Norwegian shareholder Telenor over Vimpelcom’s purchase of Ukraine’s fourth largest mobile operator Ukrainian Radio Systems (URS). The decision upheld a 14 December 2006 ruling by the Moscow Arbitration Court that rejected a suit filed by Telenor seeking to declare the purchase invalid. The ruling, the latest in a series of victories for Vimpelcom over Telenor, can be appealed with the Moscow Regional Federal Appeals Court.