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Friday, February 25, 2011

Telenor: Vimpelcom hearing adjourned til Tuesday, (NYSE: VIP), (TEL)

A London court hearing over Vimpelcom's (VIP.N) $6 billion purchase of Naguib Sawiris's telecom assets was adjourned until Tuesday, a spokeswoman for Norway's Telenor (TEL.OL) said on Friday. Telenor, Norway's biggest telecom company, owns 36 percent of Vimpelcom and is seeking a ruling that would prevent the dilution of its stake. Telenor has asked for an injunction against old rival and Vimpelcom co-owner Mikhail Fridman's Alfa Group, which backs the deal that would cut Telenor's rights to 25 percent of the enlarged group. (Reporting by Victoria Howley and Tommy Wilkes)

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