Russian Supreme Court Accepts Telenor's Request and Helps Restore Corporate Governance in VimpelCom

In response to a request filed by Telenor (Nasdaq: TELN - News) East Invest AS, the Russian Supreme Court today delivered to Telenor an order that will help restore corporate governance in VimpelCom, the Russian mobile operator in which Telenor owns 26.6 percent of the voting shares.

The order provided to Telenor states that Russia's highest court has stayed enforcement of a lower court decision that, if upheld, would have suspended the super-majority voting provisions in VimpelCom's charter applicable to decisions of VimpelCom's board of directors on strategic issues, including acquisitions. The order also says that Supreme Court will now take jurisdiction of the case.

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