Court rejects Telenor’s plea

29 Apr 2009

A court in Tyumen, Siberia has dismissed a stay motion by Telenor to prevent the sale of its stake in Russia’s second largest mobile operator, Vimpelcom. On 3 April Telenor was officially served with a notice to pay USD1.7 billion in damages or risk having its stake in the cellco sold to raise the money. The Norwegian telco had previously been found guilty of illegally blocking Vimpelcom’s entry into the Ukrainian mobile market. Telenor will continue to oppose any attempt to sell its shares in Vimpelcom, with a further hearing over the stay motion to be held in Moscow on 30 April. Telenor’s appeal over the original court ruling is due to take place on 26 May.

Norway, Russia, Beeline (Russia), Telenor Group