Agreement between Telenor and Altimo

5. October: Telenor Group and Altimo (the telecom branch of Russian Alfa-Group) announced an agreement to combine their equity in VimpelCom and Kyivstar G.S.M. to create a new leading mobile operator in important growth markets.

- This is good news for Telenor and the shareholders the Norwegian Minister for Trade and Industry, Mrs. Sylvia Brustad says. She says the agreement opens for a new international operator within mobile communication.

- The agreement forms the basis for settling ongoing conflicts between Telenor Group and Alfa Group. The agreement removes a significant uncertainty tied to Telenor’s shares in VimpelCom, Brustad continues.

- We have not had the opportunity to study all commercial aspects of the agreement, but based on the information we have received so far, it seems to be beneficial to Telenor’s shareholders, says Brustad.