Days after a new threat emerged to Renault, peace has broken out in one of Russia’s longest-running corporate bust-ups, between Norway’s Telenor and Altimo, telecommunications arm of Alfa Group. Investors had watched this conflict with increasing concern. The Norwegian group risked having its 29.9 per cent stake in Vimpelcom, Russia’s number two mobile operator of which Altimo owns 44 per cent, forcibly sold. Bailiffs had frozen Telenor’s stake ready to pay off $1.7bn damages awarded against it in a Siberian lawsuit brought by a murky shareholder, Farimex.

Telenor claimed Farimex was a front for Altimo; Altimo denied it. The dispute raised particular concern since, unlike other high-profile cases, it was outside the strategically sensitive energy sector.