Telenor in key ruling to stop Vimpelcom dilution

first_imgTuesday 1 March 2011 7:29 pm Telenor in key ruling to stop Vimpelcom dilution Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp whatsapp Tags: NULL NORWAY’S Telenor faced a London court for a second time yesterday, seeking to protect its voting rights in Russian cellphone company Vimpelcom.Telenor is asking for an injunction to prevent the dilution of its 36 per cent stake in Vimpelcom, which is buying $6bn (£3.7bn) in telecom assets from Naguib Sawiris’s Wind Telecom.Telenor is resisting that deal ahead of a special general meeting to vote on the transaction on 17 March. “A ruling against Telenor means that the deal will probably get done. A ruling in favour gives them a fighting chance,” said an investment banker.If the deal is approved, Sawiris will receive 30.6 per cent of Vimpelcom voting stock, reducing Telenor’s holding to 25 per cent.If Telenor wins the injunction, Vimpelcom must put enough new shares into an escrow account so that Telenor’s stake would not change if the deal is voted through by investors. Show Comments ▼ KCS-content Sharelast_img read more

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