Norwegian group Telenor (TEL.OL) said it expected arbitration hearings aimed at securing its shareholder rights in Russian mobile phone company Vimpelcom VIP.M would conclude in the first half of next year. "Early part of June the key hearing will begin," Ole Bjorn Sjulstad, head of Telenor Russia, told reporters on Wednesday, adding he expected a decision in the first half of 2012. Telenor has started the proceedings to avoid a dilution of its stake in Vimpelcom as part of the Russian company's cash-and-shares deal to purchase the telecom assets of Egyptian businessman Naguib Sawiris. Vimpelcom's $6 billion plus acquisition from Sawiris of control in Orascom Telecom (ORTE.CA) and 100 percent of Wind of Italy saw Telenor's stake in the enlarged company fall to just over 25 percent from 36 percent.
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