Telenor increases its stake in VimpelCom Ltd.
Fornebu
3 minute read
Telenor terminated its cash-settled total return swap (TRS) in respect of VimpelCom Ltd. shares that it had entered into with J.P. Morgan Securities Ltd. on 22 July 2011 and amended on 7 October 2011. Following such termination, Telenor purchased depositary receipts representing 65,000,000 VimpelCom common shares from J.P. Morgan Securities Ltd. for a purchase price of USD 715,000,000, thereby increasing Telenor’s economic and voting interests in VimpelCom Ltd. to 35.66% and 39.51%, respectively.
Telenor has issued the following notice to the Oslo Stock Exchange:
VimpelCom shareholdings before transaction
| Common Shares | Percent Common | Preferred Shares | Total Voting Shares | Percent Votes | |
| Telenor | 515 578 840 | 31,67 % | 234 000 000 | 749 578 840 | 36,36 % |
| Altimo | 510 461 800 | 31,35 % | 4 932 000 | 515 393 800 | 25,00 % |
| Weather | 305 803 396 | 18,78 % | 71 000 000 | 376 803 396 | 18,28 % |
| Bertofan | 0 | 0,00 % | 123 600 000 | 123 600 000 | 5,99 % |
| Other | 296 355 099 | 18,20 % | 296 355 099 | 14,37 % | |
| Total | 1 628 199 135 | 100,00 % | 433 532 000 | 2 061 731 135 | 100,00 % |
VimpelCom shareholdings after transaction
| Common Shares | Percent Common | Preferred Shares | Total Voting Shares | Percent Votes | |
| Telenor | 580 578 840 | 35,66 % | 234 000 000 | 814 578 840 | 39,51 % |
| Altimo | 510 461 800 | 31,35 % | 4 932 000 | 515 393 800 | 25,00 % |
| Weather | 305 803 396 | 18,78 % | 71 000 000 | 376 803 396 | 18,28 % |
| Bertofan | 0 | 0,00 % | 123 600 000 | 123 600 000 | 5,99 % |
| Other | 231 355 099 | 14,21 % | 231 355 099 | 11,22 % | |
| Total | 1 628 199 135 | 100,00 % | 433 532 000 | 2 061 731 135 | 100,00 % |