Telenor Challenges URS Acquisition In Court.

Telenor has brought three law suits against Vimplecom’s (VIP) acquisition of URS, in a Moscow court. Among the objectives of these lawsuits Telenor lists: the minimization of economic harm to VimpelCom shareholders and restoring basic standards of corporate governance and financial control. Concorde Capital: Telenor’s statements might hurt VIP’s attractiveness for international investors. The lawsuits have forced VIP’s management, which earlier announced plans to develop Russia’s BEE-LINE mobile brand in Ukraine, shelve its Ukrainian expansion plans for the time being. This delay may decrease VIP’s chances of successfully entering the Ukrainian mobile market before it reaches its saturation point.