You heard it hear first: Telenor and Alfa have a row over Ukrainian mobile business

16 Dec 2005

Members of the board of Russian mobile group Vimpelcom have vetoed the company’s proposed 2006 annual budget, over a dispute about investment in the recently acquired cellco Ukrainian Radiosystems (URS). Vimpelcom needs the approval of eight of its nine board members to approve any budget. It is believed that three members voted against the budget, all of whom were nominated to the Vimpelcom board by Telenor of Norway, which has long fought against the purchase of URS, instigated by fellow shareholder Alfa Group. It is believed that Telenor wants the 2006 budget to be split into three to cover each of the countries in which Vimpelcom operates. The Norwegian group continues to grill Alfa and the rest of the Vimpelcom board over the proposed business plan for URS.

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share