Telenor claims ‘groundless’ - AltimoTotaltele writes…Russian telecoms holding Altimo Thursday rejected allegations by Norwegian telecoms operator Telenor ASA (TELN) that it violated U.S. securities laws between August 2006 and May 2007 in relation to the purchase of shares in Russian mobile firm OAO Vimpel Communications (VIP).
Altimo, part of conglomerate Alfa Group, said purchases of VimpelCom shares were made in full compliance with U.S. Securities and Exchange Commission regulations and that all SEC filing requirements had been met.
“It is very disappointing that Telenor seems committed to following its strategy of headline grabbing but fruitless lawsuits against Altimo which cost millions of wasted dollars to Telenor’ shareholders,” said Kirill Babaev, Altimo’s Vice President.
