Vimpelcom's Board Of Directors Cannot Agree On URS Purchase.

On Friday Vimpelcom’s (VIP) press service stated that the company’s board of directors voted in favor of the validity of an EGM decision  which allowed the purchase of Ukrainian mobile operator URS. However, the board of directors failed to approve resolutions which would have provided specific guidance to the CEO regarding the next steps to be taken with respect to this acquisition. Concorde Capital:  It is not clear whether the management of VIP will execute the EGM?s decision to purchase URS, or whether it has to wait until the board of directors approves the transaction with at least 80% in favor. Vimpelcom?s CEO Alexander Izosimov said the company?s management ?plans to finalize negotiations for the acquisition of URS,? however, Telenor representatives say the URS acquisition is invalid unless 80% of the board of directors approve the deal.