Telenor damages claim dismissed

6 Jan 2009

A Russian appeals court has ruled that Telenor is not liable to pay a claim for USD2.8 billion in damages which was upheld by the Khanty-Mansiysk Arbitration Court in August last year. The claim was filed by British Virgin Islands-based investment group Farimex; Farimex is a minority shareholder in Russian cellular operator Vimpelcom and it alleges that Telenor – which is one of Vimpelcom’s largest shareholders – hampered the cellco’s entry into Ukraine’s mobile market. A court in Siberia has now annulled the Khanty-Mansiysk decision and ordered a retrial.

Russia, Beeline (Russia), Telenor Group, VEON