Rus News Journal

Telenor has not forgiven URS

And has continued to have legal proceedings with “ Vympelcom “

Attempt Telenor to challenge purchase “ the Ukrainian radio systems “ made “ Vympelcom “ two years ago, has again failed. Yesterday Norwegians have lost the cassation in Federal arbitration court of the Moscow district. However Telenor it is not ready to recognise yet the checkmate and to reconcile to this transaction, and lawyers consider that the company has a chance of a judicial victory.

yesterday the Federal arbitration court of the Moscow district considered appeal Telenor. It has been submitted on last of claims with which help Norwegians try to challenge purchase of the cellular operator “ the Ukrainian radio systems “. As a result the court has left without change the decision of Arbitration court of a city of Moscow from December, 14th of last year and the decision of appeal instance from July, 2nd of this year, accepted in advantage “ Vympelcom “.

In “ Vympelcom “ say that are satisfied by the court decision, “ which once again refuses to the company “ Teleholes of Ist Invest the EXPERT “ in the requirement to recognise void the transaction on Joint-Stock Company purchase “ the Ukrainian radio systems “ (URS) “. Telenor to which posess 29,9 % of actions “ Vympelcom “ considers purchase URS for 231,1 million dollars unprofitable. Claim unsuccessfully appealed against yesterday - last from three, submitted Norwegians in January of last year. With its help Telenor tries to challenge the fact of the transaction. First two claims have been closed by Federal Arbitration court in June of current year - they challenged the decision of meeting of shareholders on acquisition URS and actions of the general director “ Vympelcom “ Alexander Izosimova.

the Yesterday`s decision of court can be still appealed against as supervision in the Supreme Arbitration Court. Also it is not excluded that Telenor will decide to use this possibility. “ Hearing has taken place, and our cassation has been rejected. Now Telenor analyzes the options, we consider all possible ways “ - on intentions of the company the director for external relations Telenor Russia Anna Ivanov - Galitsina frostily makes comments.

Telenor it is disappointed by actions “ the Alpha - Groups “ which owns 44 % of actions “ Vympelcom “ and two years ago has helped to carry out the transaction with URS through meeting of shareholders. The matter is that past Monday representatives “ Alphas “ were not on meeting of other Ukrainian operator of cellular communication - “ Kievstara “ in which both companies own large share holdings. In Telenor counted that “ the Alpha “ will finish the conflict in “ Kievstare “ then Norwegians would withdraw the ­ claim to “ to Vympelcom “.

However, lawyers consider that Telenor still can win the claim on URS in the Supreme Arbitration Court. “ If there was at least one instance chances to carry case are. In judiciary practice it is not frequent, but there are cases when after loss of three instances the Supreme Arbitration Court nevertheless accepts a defeated party position “ - Natalia Barshchevsky, the lawyer and the Bar partner " considers; Barshchevsky and partners “. For example, this year Shalva Chigirinsky in dispute on the case of a hotel pulling down “ Russia “ has won all three instances, but, despite it, as a result has lost case in the Supreme Arbitration Court­.