Telenor says "very close" to closing Alfa deal

OSLO, April 16 (BestGrowthStock) – Norway’s Telenor (TEL.OL: ) said it
was very close to closing a deal with Russia’s Alfa Group to
merger their Russian and Ukrainian mobile operators following a
successful share exchange and the withdrawal of a court suit.

“We are very close to closing this deal, provided that the
Farimex issue is settled at no cost to us and the closing of the
Russian part of the offer on April 20,” Telenor spokesman Dag
Melgaard said on Friday.

“Russian bailiffs still hold our (Vimpelcom) shares in
arrest, and this needs to be lifted and all proceedings
cancelled. But we are very happy with these developments.”

Some 97 percent of Vimpelcom shareholders agreed to exchange
their shares in the Russian operator into stock in Vimpelcom Ltd
— a new entity which includes Ukrainian moblie group Kyivstar
— in a tender which ended on Thursday. A Russian part of the
offer runs out on April 20, Melgaard said.

Stock Market Analysis

(Reporting by Wojciech Moskwa)

Telenor says “very close” to closing Alfa deal