Telenor seeks to block deal by Vimpelcom

first_img whatsapp KCS-content Telenor seeks to block deal by Vimpelcom whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years NORWEIGAN communications group Telenor is taking mobile group Vimpelcom to arbitration over its planned $6bn (£3.8bn) purchase of telecoms groups Wind and Orascom, a move likely to mire the deal in a lengthy legal tussle.Telenor, which owns nearly 40 per cent of Russia’s Vimpelcom, said yesterday it had requested an arbitration tribunal over a part of the deal that prevents it from exercising pre-emptive rights over a share issue.Vimpelcom announced a $6bn cash and shares deal to buy Italy’s Wind and control of Egypt’s Orascom from Egyptian tycoon Naguib Sawiris last month, which could create one of the world’s biggest telecoms operators. Telenor has vowed to fight the transaction – which it says is too risky and will reduce its influence over the company – putting it at loggerheads with Mikhael Fridman’s Alfa group.Telenor and Alfa’s telecoms unit Altimo are no strangers to conflict, having fought a series of legal disputes over Vimpelcom’s strategy before a truce was called in 2009.Telenor’s shares were down 0.9 per cent in early trade, in line with wider global markets.Telenor spokesman Dag Melgaard said the company had appointed an arbitrator – a private legal method not decided in public courts – and the tribunal will be based in London.Altimo said in a statement it would “vigorously contest” the claims and was confident of victory. center_img Share Monday 31 January 2011 8:01 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Show Comments ▼ Tags: NULLlast_img read more