Telenor Wins Arbitration Case Against Altimo in New York

According to Telenor, New York’s Arbitration Court obliged Altimo to sell its shares in Kyivstar within the next 120 days or to decrease its stake in the company’s competitors, Turkcell and Ukrainian New Technologies, to 5%. According to Telenor, Altimo violated a shareholder agreement with Telenor on joint investments in Kyivstar. Alexander Paraschiy: At the moment it is not clear whether Altimo will obey the decision of the New York court. Previously, Altimo said Kyivstar is a Ukrainian company, thus all the disputes should be heard in Ukrainian courts.