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Veon Ltd. | November 2, 2006 |
Federal Arbitration Court upholds VimpelCom's acquisition of URS
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| Moscow and New York (November 2, 2006) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that the Federal Arbitration Court of the Moscow District has ruled in favor of VimpelCom in one of the lawsuits filed by Telenor East Invest AS. The Company is pleased with the court’s decision which once again upheld the validity of the September 2005 shareholder vote which approved the acquisition of CJSC "Ukrainian Radio Systems" ("URS") as an interested party transaction. This is the third Russian court that has ruled in VimpelCom’s favor on this particular lawsuit.
Today’s court ruling is subject to appeal to the Supreme Arbitration Court of the Russian Federation.
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