Vimpelcom ownership lawsuit to be heard on 27-Nov

18 Oct 2012

Following a preliminary hearing held yesterday, the Moscow Arbitration Court has set a date of 27 November to hear a lawsuit filed by Russia’s competition regulator FAS, reports Reuters. The watchdog is seeking to overturn a deal made in February that resulted in Telenor securing an increased stake in Vimpelcom. The ownership of the operator has been the subject of a long-running dispute between Telenor and billionaire Mikhail Fridman’s Altimo. It is understood that the position of the FAS is that it is concerned with the dominant position of Telenor – a foreign state-controlled company – in Vimpelcom, whose Russian operating subsidiary is considered a strategic asset by the government. Earlier this month, the FAS said that it would consider withdrawing the lawsuit if Telenor and Altimo resolve their differences and reach equal ownership in Vimpelcom.

Russia, Telenor Group, VEON