Telenor the Norwegian company Telenor has increased the share in VimpelComhas redeemed at company Weather Investments of 71 million under control to the Egyptian billionaire Nagibu Savirisu more preference shares VimpelCom Ltd. As a result of the transaction which sum has made 113,6 million dollars, share Telenor in VimpelCom has increased from 39,5 % to 42,95 % of voting actions.
“ on conditions optsionnogo the agreement concluded Telenor with Weather in February 2012ã., Telenor is obliged to accept remained at Weather preference shares VimpelCom Ltd. At realisation Weather of the right of sale of actions. However if to speak about business with the account of history of transactions with actions we are interested in development of the decision with participation Altimo, Bertofan and Telenor which will provide in VimpelCom Ltd. Parity Altimo and Telenor. According to it Telenor suggests to carry out together with Altimo the repayment of preference shares at company Bertofan Investments Limited for the full fair price in the ratio which will provide as a result parity Altimo and Telenor as owners of actions “ - representative Telenor of Dag Melgaard has informed.
In message Telenor it is noticed that the Norwegian company invites Russian Altimo (operates telecommunication actives “ the Alpha - groups “) To cooperation in business of restoration of appropriate corporate governance in VimpelCom Ltd. And, in particular, suggests to support initiative Telenor about parity. It is especially underlined that Telenor does not aspire to change of the developed structure of corporate governance VimpelCom Ltd., including structure of board of directors.
Besides, Telenor addresses also to the Russian authorities with an appeal to support the put forward initiative to find the constructive decision taking into account interests of all parties and to avoid conflict escalation in connection with accepted by Arbitration court of Moscow obespechitelnymi the measures assuming their compulsion outside of territory of the Russian Federation.
according to D.Melgaarda, “ offer Telenor assumes the co-ordinated all-round efforts directed on restoration of appropriate corporate governance in VimpelCom Ltd. “. “ We address to all interested persons with an appeal to a pragmatism and support of the given efforts that will undoubtedly do good to the company and all shareholders “ - he has noted.
as it was informed earlier, in February 2012ã. Telenor share Telenor in VimpelCom has redeemed 234 million preference shares VimpelCom at company Weather Investments II for 374,4 million dollars As a result has grown with 25,01 to 36,36 %. Then in April of this year the Norwegian company has bought at J. P. Morgan Securities depozitarnye receipts for 715 million dollars As a result the share of economic rights Telenor in the operator has increased by 65 million ordinary actions VimpelCom with 31,67 to 35,66 %, and voting - with 36,36 to 39,51 %. Besides, Telenor has concluded optsionnoe the agreement on purchase at Weather Investments 71 million remained preference shares VimpelCom Ltd. For 113,6 million dollars Also the Norwegian company has a swap - the agreement with ING on 2 million 237 thousand ADR VimpelCom (0,1 % of voices).
In the end of April 2012ã. The Arbitration court of Moscow has imposed obespechitelnye measures under the claim of Federal antimonopoly service (FAS) to Telenor. The court has forbidden VimpelÑom Ltd. And VimpelÑom Holdings to vote at general meetings of participants of Open Society “ Vympelcom “ on questions on change of structure of participants of controls, and also decision-making on approval of large transactions and transactions in which relation there is an interest. Besides, to shareholders VimpelÑom Ltd., Telenor East Holding II AS and Weather Investment II S. a. r. l. It is forbidden to change structure of controls VimpelCom Ltd. The Judgement also it is forbidden to them to realise the rights on optsionnomu to the agreement from February, 15th 2012ã.
on May, 23rd of this year the Arbitration of Moscow has satisfied the next petition of Federal antimonopoly service (FAS) the Russian Federation about imposing obespechitelnyh measures under the claim to Telenor under the transaction about increase in a share of the company in VimpelCom. In a judgement it was specified that “ To Vympelcom “ and it is forbidden to its parent company VimpelCom to the introduction into validity of the judicial certificate on the substance of dispute to execute the decision of annual general meeting of shareholders which has taken place on May, 21st. So, “ to Vympelcom “ it is forbidden to pay dividends following the results of 2011ã. (More than 18,9 mlrd rbl.) To deduce the money resources intended for these payments, into the accounts or accounts of other companies in foreign banks, and also to external auditors and the selected board of directors of the company to realise powers.
on September, 24th 2012ã. The ninth appeal court of Moscow has rejected appeal complaint Telenor about cancellation of definition of Arbitration court of Moscow about imposing obespechitelnyh measures under claim FAS to Telenor within the limits of the transaction on increase in a share of the Norwegian company in VimpelCom Ltd.
on April, 25th 2012ã. The Arbitration court of Moscow has appointed preliminary hearings under claim FAS to Telenor under the transaction about increase in a share of the company in VimpelCom to October, 17th 2012ã. FAS asserts that the transaction with actions and options VimpelCom Ltd., made Telenor and Weather Investments on February, 15th 2012ã., breaks the Russian law on foreign investments in the company having strategic value, and asks court to recognise the transaction void. Thus department demands to oblige Telenor to return got actions VimpelCom Ltd. Companies Weather Investments and to conclude between Telenor, VimpelCom Ltd. And Altimo the new joint-stock agreement.
as has informed journalists on September, 24th 2012ã. Head FAS Igor Artemyev, dispute settlement around VimpelCom, most likely, it will be finished after October, 1st 2012ã. Earlier I.Artemyev noticed that “ is better all to solve by October, 1st not to leave on any second or third coil of a legal investigation “.