Norwegian telecom giant Telenor has further raised its stakes in Vimpelcom after it struck a $715-million deal with JP Morgan Securities last week, giving the group even more financial and voting rights in Vimpelcom.
After buying 65 million common shares from the bank, Telenor now owns 35.66 percent of Vimpelcom up from 31.67 percent, and 39.51 percent of the votes up from 36.36 percent before.
Telenor took back control of Vimpelcom from Russian oligarch Mikhail Fridman’s Alfa Group after buying 234 million shares, boosting its ownership to 31 percent from just 25 percent.
It maybe recalled that Vimpelcom, through a deal finalized last year, holds 51.7 percent stakes in Orascom Telecom, the parent group of Mobilink.
With 35.66 percent stakes in Vimpelcom, Telenor group holds 18.44 percent economic rights in Orascom, or in Mobilink subsequently, a fully owned subsidiary of Orascom Telecom.
This proposition translates into a situation where Telenor group has operations in Pakistan through Telenor Pakistan in addition to Mobilink in which it holds 18.44 percent economic stakes.
In simpler words, 18.44 percent of profits from Mobilink goes into Telenor’s pockets, in addition to 20.43 percent voting rights in the firm through its holding.
The situation can concern the competition operators in Pakistan or the competition commission of Pakistan. Even PTA would be worried of this outcome as Telenor’s financial and voting ownership in Mobilink can restrict both firms from bidding in upcoming 3G license auction.
I think Aamir bhai, Mobilink and Telenor, both are trying to trap Pakistani Telecom Market. By playing ‘dosti – dodti’ they will eventually push other operators out. Isn’t it?????
i agree upto some extent
does telenor have any agenda against pakistan?
telenor is playing dirty game with ppl with pakistan.they also did fraud in India.kick them out from pakistan,otherwise they will capture whole market with thier dirty games.
Yes, let’s go back to the days before Telenor, when we paid Rs 3.50/minute on ufone or mobilink!
Yeah can’t compete in service with Telenor by fair means, let’s label them anti-Pakistan or some jewish lobby and let’s kick them out of Pakistan and close the doors of foreign funding in Pakistan forever!
FAHAN janjua TELENOR walo ney INDIA main kia FRAUD kia? zara ye tu batao?sab se zyda CHARGES bhi TELENOR waley hi barha rahay hain 2 months se taqreban.Dont think as a TELENOR EMPLOYEE, think as a pakistni and muslim.
That’s a lunatic attitude! Just call someone who doesn’t agree with you a Telenor’s employee. What’s next? you might want to call me a RAW agent or Jewish agent? Since you believe I am not thinking as a Pakistani? Guess what, I don’t give a flying f*** on that. I don’t need my approval from you for being a Pakistani and thinking as a Pakistani. Neither I am concerned with Telenor India. All I am talking about is Telenor Pakistan. You can’t blame Telenor Pakistan for what Telenor India is doing. Yes, makes hell of a difference, only if you knew.
You are wrong dude, do some research first, you know in India they don’t let an outsider straight in like Pakistan. Their you must partnership with a local company and Telenor made joint venture with Unitech. and it became Uninor in India. Unitech did few frauds and Telenor decided to get out of Indian dirty market.
Incorrect. They are not entitled to 18.8% of the revenues. They are onyl entitled to 18.8% of dividends issued by mobilink, which is decided at the discretion of their board of directors.
yep, you’re right!
Hip Hip Horaay to Telenor
“Even PTA would be worried of this outcome as Telenor’s financial and voting ownership in Mobilink can restrict both firms from bidding in upcoming 3G license auction.“
I wish so.
There will be Zong & Ufone only in 3G race.
as per my info telenor group has acquired more than 50% shares in vimplecom :) and i think orascom is now merged with vimplecom as a result of share swapping…Admin to please confirm
Sorry i thought wind had sold its common stock to telenor.
anyway telenor is now the largest shareholder and will soon be in charge either by partnering with naguib swaris or through further enhancement in shareholding…..
Dear all of you, I have ben using telnor postpaid connection and nvr ever freedom to call any company provided. I actually want to know is telnor owners are anti muslims? or Jewish or as a muslim what you say is Telenor using is right or not.
Awaiting your kind reply,
Thanks.