Moscow Court Postpones Decision in Telenor Case

MOSCOW April 4 — A Moscow court postponed an appeal by Telenor AS to halt a multibillion-dollar damages claim, technically clearing the way for bailiffs to sell the Norwegian telecom group’s stake in Russia’s No. 2 cellular provider, OAO Vimpel Communications.

The Moscow City Arbitrazh (Business) Court heard Telenor’s request to stay enforcement of the 1.73 bln USD claim resulting form the Omsk Court ruling of 20 February.

The judge adjourned the hearing of the request to April 30, 2009 in order to clarify VimpelCom’s position. The next court hearing will be in Tyumen in Western Siberia on 28 April, where Telenor’s appeal of the denial of a stay of execution will be heard.

Read more about the case on New York Times

Read more about Telenor on Telenor.com

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