Russian Court Postpones Telenor's Suit Vs VimpelCom

MOSCOW, Oct 18 (Prime-Tass) -- Russia's Moscow Arbitration Court on Wednesday postponed until November 21 hearings of Norwegian telecommunication company Telenor's lawsuit against VimpelCom's purchase of mobile operator Ukrainian Radiosystems (URS).

The lawsuit was filed against Russia's second largest operator VimpelCom, as well as five companies registered in the British Virgin Islands and Cyprus and one individual, who were involved in the sale of URS.

Telenor filed the lawsuit, as well as two others, challenging VimpelCom's purchase of URS, in January. The court has already rejected the other two lawsuits.

Telenor holds 26.6% in VimpelCom, while Russia's Alfa Group indirectly owns 32.9%.

VimpelCom purchased URS for a total of U.S. $231.3 million on November 11, 2005. URS had less than 1% of the Ukrainian market at the moment.

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Posted to the site on 18th October 2006