Telenor boosts voting stake in Vimpelcom Ltd from 36.36% to 39.51%, spends $715 mln

Home > Newsroom > Top Stories > Telenor boosts voting stake in Vimpelcom Ltd from 36.36% to 39.51%, spends $715 mln

Telenor boosts voting stake in Vimpelcom Ltd from 36.36% to 39.51%, spends $715 mln

MOSCOW. April 4 (Interfax) - Telenor increased its voting stake in Vimpelcom Ltd from 36.36% to 39.51% by purchasing 65 million shares from JP Morgan Securities.

The cost of the transaction came to $715 million, the Norwegian company said in a statement.

Telenor terminated a cash-settled total return swap agreement that it entered with JP Morgan on July 22 last year and which was amended on October 7, 2011. Following the termination, Telenor bought depositary receipts representing 65 million VimpelCom shares from JP Morgan for $715 million.