Telenor yesterday filed a claim in the Supreme Court of
Bermuda, requesting the Court to declare that Telenor's
15 February purchase of 234,000,000 VimpelCom preferred
shares from Weather Investments II S.ŕ.r.l. did not trigger
the mandatory tender offer requirements in VimpelCom's
Bye-laws.
"VimpelCom is a Bermuda company. The issue of whether
Telenor and Weather Investments have an obligation under
VimpelCom's bye-laws to make a mandatory tender offer is a
question of law for determination by a Bermuda court," said
Telenor's spokesman, Dag Melgaard. "We filed this
claim to ensure that the court has the opportunity to
promptly make such a determination."
Telenor filed its claim following a 1 June letter from
Altimo to VimpelCom in which Altimo alleged that Telenor
and Weather Investments violated VimpelCom's bye-laws by
forming a group at the time of Telenor's purchase of
VimpelCom preferred shares from Weather Investments and
then failing to make a tender offer for all of VimpelCom's
outstanding shares. VimpelCom said in a 5th
June press statement that its Nominating and Corporate
Governance Committee would assess Altimo's allegations and
make recommendations to the VimpelCom Supervisory Board as
to what action, if any, VimpelCom should take.
VimpelCom Ltd., which is incorporated in Bermuda, is the
named respondent in Telenor's claim.
Contacts:
Media:
Dag Melgaard, Communication Manager, Telenor Group
tel: +47 901 92 000 / e-mail: dag.melgaard@telenor.com
Analysts and investors:
Marianne Moe, IR Director, Telenor Group
Tel: +47 916 17 631 / e-mail: marianne.moe@telenor.com
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