Financial Times FT.com

Telenor’s VimpelCom stake seized by court

By Catherine Belton in Moscow

Published: March 13 2009 09:37 | Last updated: March 13 2009 09:37

Telenor, the Norwegian telecoms group, on Thursday claimed its Russian partner Alfa Group was attempting to “steal” its strategic stake in Vimpelcom, Russia’s second-largest mobile operator, after a Siberian court froze its shares in the company.

Alfa Group, which is controlled by Mikhail Fridman, the Russian billionaire, denied any connection to the Vimpelcom case and claimed Telenor was trying to ensure the seizure of its telecoms assets via a ruling in a New york federal court that could see Alfa Group fined a total $12bn over the next year.

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