Telenor increases its stake in VimpelCom Ltd.

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.

Published: 4 April 2012 14:42

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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 %