And The Winner's Alpha?
4 October 2008
The Supreme Court ruled in favor of Alpha Group in a dispute between the company and Telenor over the structure of the supervisory board at Kyivstar, Ukraine’s largest mobile operator. The ruling will now give Alpha, which has a 43.5% stake in Kyivstar, equal representation on the board with Telenor, which controls 56.5% of the mobile operator. Following the ruling, a Telenor spokesman called Alpha’s move “corporate raiding” and said he thought the ruling would deter foreign investors. Alexander Paraschiy: Despite the ruling of the court only a decision by Kyivstar’s shareholders structure can change the structure of the supervisory board. Thus the company will have to hold an AGM, something Telenor has been trying get Alpha’s subsidiary Storm to attend for years.
