About Telenor in Russia
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| Telenor's office in Moscow |
Telenor Russia AS is Telenor's country office located in Moscow. The company is responsible for supporting Telenor's investments in the Russian telecommunications market and exploring new business opportunities. The Moscow office also has the primary responsibility for maintaining a good relationship with local authorities, business partners, analysts and press.
Since 1992 Telenor has invested around $ 1.2 billion in telecommunication assets in Russia. The current value of these holdings is more than US$ 10 billion. This makes Telenor the biggest foreign investor in the Russian telecom industry.
Telenor concentrates its investments and efforts in Russian company VimpelCom. Telenor holds 33,8% in the VimpelCom Group. The wireless subsidiaries of the VimpelCom Group operate under the “Beeline” brand.
Telenor has three representatives on the board of directors of VimpelCom actively participating in strategic development and running of these companies.
Telenor sponsors the State Academic Bolshoi Theatre of Russia.
| Telenor's history in Russia: | ||
| 2007 | Telenor increases its voting shares in VimpelCom to 29.9% of voting shares and 33.6% economic shares. | |
| Golden Telecom buys 51% in Russian telecommunications operator Corbina Telecom. The acquisition dilutes Telenor’s stake in Golden Telecom to 18.4% | ||
| 2006 | Telenor signs a total return equity swap agreement with ING Bank gaining economic exposure to up to 3.522% in VimpelCom | |
| 2003 | Telenor sells 49% in StavTeleSot to VimpelCom for $20 Mln | |
| Telenor swaps its 100% ownership in Comincom/Combellga towards 19.5% of the shares in
Russia’s largest alternative operator, Golden Telecom. The swap agreement together with the acquisition of additional shares gives Telenor a 20.4% stake in Golden Telecom. |
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| 2002 | Telenor invests $58.5 Mln in Vimpelcom-Region. Sells 49% in Extel-GSM to VimpelCom for $10 Mln. |
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| 2001 | Telenor invests $26 Mln in VimpelCom’s new share issue. Sells 12.74% in North-West GSM to TeliaSonera for $44 Mln. |
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| 2000 | Telenor buys 75% in Comincom for $120 Mln.. | |
| 1999 | Telenor buys $52 Mln worth of newly-issued shares in VimpelCom. | |
| Sells 50% of Kola Telecom to Murmansk Electrosvyaz. | ||
| 1998 | Telenor buys 30% in VimpelCom for $162 Mln. | |
| Representative office is moved from St.Petersburg to Moscow. | ||
| 1997 | Telenor invests $6 Mln in 49% of Stavropol-based GSM operator StavTeleSot | |
| Buys 49% in Extel (GSM operator in Kaliningrad) for $2 Mln. | ||
| 1996 | First representative office is opened in St. Petersburg. | |
| 1994 | Telenor invests $2 Mln in 12.74% of North-West GSM (which later became MegaFon). | |
| 1992 | Telenor enters Russia by investing $0.2 Mln in 50% in Kola Telecom, a corporate provider in Murmansk. |
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| Oslo (OSE) |
> Telenor Russia AS
Sadovaya-Kudrinskaya
Str., 32, blgd. 1,
Moscow 123 001
Russia
Tel. + 7 (495) 937-95-88
Fax + 7 (495) 937-95-89