Telenor Asa (NASDAQ:TELN)
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Telenor Refutes Alfa's False and Misleading Statements
FORNEBU, Norway, June 9 /PRNewswire-FirstCall/ -- In a conference call with
VimpelCom shareholders today, Alfa Telecom made certain false and misleading
statements that Telenor wishes to refute.
First, Alfa Telecom stated that Telenor had proposed to Alfa that Telenor and
Alfa together purchase a Ukrainian mobile operator known as WellCom. This
statement is not true. As Telenor has repeatedly stated, it has no confidence
in the merits of the business case for WellCom, regardless of the identity of
the acquirer.
Second, Alfa Telecom said that Telenor has a conflict of interest in respect to
the potential acquisition by VimpelCom of WellCom. This is not true. If this
acquisition would create value for VimpelCom, Telenor, as VimpelCom's largest
shareholder, would obviously support it.
Third, Alfa Telecom stated that Telenor, Alfa and VimpelCom have had
negotiations concerning a potential merger between VimpelCom and Kyivstar. This
statement is not true. No such negotiations took place.
Fourth, Alfa Telecom stated on the call that it has no intention of taking
control of VimpelCom. This statement contradicts an amendment to Alfa
Telecom's filing on Schedule 13D filed with the SEC on May 26, 2005 in which
Alfa Telecom stated that "Eco Telecom would like to obtain control of VimpelCom
.... "
Telenor refers investors to Telenor's June 6, 2005 letter to shareholders of
VimpelCom, which outlines in detail what Telenor believes to be Alfa's strategy
concerning VimpelCom, and proposes a course of action for VimpelCom's upcoming
AGM that Telenor believes will protect the interests of all of VimpelCom's
shareholders. This letter is accessible on Telenor's website
(http://www.telenor.com/).
Further information:
Chief Press Spokesman, Telenor ASA, Dag Melgaard, Tel (+47) 901 92 000
Telenor:
Headquartered in Oslo, Norway, Telenor is an international provider of high
quality telecommunications, data and media communication services. Telenor is
one of Norway's largest companies with revenues in 2004 of approx. NOK 61.3
billion and a work force of 20,900 domestically and abroad. Telenor is listed
at the Oslo Stock Exchange (TEL) and Nasdaq in New York (TELN).
DATASOURCE: Telenor ASA
CONTACT: Dag Melgaard, Chief Press Spokesman of Telenor ASA,
+47-901-92-000
Web site: http://www.telenor.com/