Telenor Wants to Expand VimpelCom's Operations Abroad
MOSCOW, Oct 10 (Prime-Tass) -- Norwegian telecommunication company Telenor wants to expand operations of its affiliate, Russia?s second largest mobile operator VimpelCom, outside Russia and the Commonwealth of Independent States (CIS), Kjell-Morten Johnsen, head of Telenor Russia, told a conference, Kommersant business daily reported Tuesday.
As an example of VimpelCom's possible expansion, Johnsen named Pakistan, where Telenor purchased a mobile service license in 2004, the daily reported.
Altimo, the other key shareholder in VimpelCom, welcomed Telenor's proposal. "We have always favored VimpelCom's expansion and entrance in new markets with a good outlook," Altimo's Vice President Kirill Babayev said, the daily reported.
Altimo and Telenor have been in a conflict over VimpelCom's development strategy for more than one year. Altimo wants VimpelCom to expand in CIS countries and beyond the former Soviet Union and accuses Telenor of trying to block the expansion.
Altimo, the telecommunications arm of Russian industrial and financial holding Alfa Group, holds a 32.9% voting stake in VimpelCom, while Telenor holds a 26.6% stake.
End"
Posted to the site on 10th October 2006
