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Thursday, February 10, 2011

Altimo offers fast solution to Vimpelcom dispute, (NYSE: VIP), (TEL), (ORTE)

Russia's Altimo said on Thursday it had asked Vimpelcom (VIP.N) co-owner Telenor (TEL.OL) to accelerate a legal process launched by the Norwegian firm in respect of a disputed deal for Orascom (ORTE.CA) and Wind. Altimo, the telecoms arm of Russian billionaire Mikhail Fridman's Alfa-Group, said in a statement it thought an expedited arbitration with final award by March 7 could resolve the dispute. Telenor objects to Russian mobile phone operator's proposed $6 billion acquisition of Naguib Sawiris telecoms assets. [ID:nLDE7161YB] (Reporting by Maria Kiselyova; editing by John Bowker)

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