Anti-Monopoly suit against Telenor dropped

23 Nov 2012

Russia’s Federal Anti-Monopoly Service (FAS) has dropped a lawsuit against Telenor it filed in April contesting the Norwegian telco’s ‘dominant’ stake in Vimpelcom, because the size of Telenor’s stake has since been overtaken by fellow shareholder Altimo, rendering the case void. Although now headquartered in Amsterdam, listed in New York and incorporated in Bermuda, Vimpelcom is regarded as strategically important to Russia, and the FAS has sought to prevent the company from being majority controlled by non-Russian interests.

Netherlands, Russia, Telenor Group, VEON