Telenor agrees to Golden deal

6 Feb 2008

Telenor of Norway has agreed to sell its 18.3% stake in Russian wireline operator Golden Telecom to another of its Russian subsidiaries, cellular operator Vimpelcom. Vimpelcom has offered USD105 a share for Golden Telecom, valuing Telenor’s stake at USD773.9 million. Telenor owns 33.6% of Vimpelcom’s voting shares and has a 29.9% voting stake in the cellco. The other main shareholder is Russia’s Alfa Group, which also has a 26.6% stake in Golden Telecom.

Russia, Beeline (Russia), Telenor Group, VEON