Bloomberg News

VimpelCom Barred From Paying Dividend by Russia, Kommersa

May 25, 2012

VimpelCom Ltd. (VIP:US) and its Russian unit are barred by a Moscow court from undertaking some financial transactions including paying dividends for 2011, Kommersant reported, citing the court decision.

The ruling was prompted by Russian antitrust watchdog, which is disputing deals through which Egyptian billionaire Naguib Sawiris’ Weather Investments II SARL sold 11.3 percent of VimpelCom’s voting stock to another shareholder, Telenor ASA (TEL), and granted it an option to obtain another 3.4 percent, the Moscow-based newspaper reported today.

The Federal Anti-monopoly Service contends that the agreements violate Russian laws on investments in strategic enterprises. VimpelCom declined to comment, Kommersant said.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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    (VimpelCom Ltd)
    • $8.16 USD
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