Telenor Issues New Lawsuit Against Alfa.

Telenor has filed suit in New York against Alfa Group for violating its agreement with Kyivstar’s shareholders. The suit alleges the following violations:

–    Alfa filed lawsuits in Ukraine, though the two companies had agreed to solve all disputes in New York

–    Alfa did not attend shareholder meetings

–    Alfa acquired 13.2% of Turkcell which controls Ukrainian operator Astelit, however according to the agreement it is not allowed to purchase more than 5% in any company (except Kyivstar) which has mobile business in Ukraine.

Concorde Capital: This is Telenor’s fourth claim against Alfa in the last week – these attacks will definitely hurt Alfa’s international image.