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. Telenor's spokeswoman Anna Ivanova-Galitsina said the hearings would begin after the parties finished exchanging files and that Telenor plans to present its initial statement of claim to the court early in June. "We expect the outcome in the first half of 2012," Ole Bjorn Sjulstad, head of Telenor Russia, told reporters on Wednesday. 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.
Source
