EastOne refutes statements made by Telenor

International investment advisory group EastOne refutes statements made by Norway’s Telenor that a parcel of VimpelCom Ltd shares owned by Bertofan Investments Limited, a company under EastOne’s mandate, is allegedly held on behalf of Altimo (a company managing telecommunications assets of Alfa Group) and considers these statements groundless.

The acquisition of VimpelCom Ltd shares (123,600,000 convertible preferred shares constituting 28.51% of all issued preferred shares, and 5.995% of all voting shares, in the capital of VimpelCom Ltd.) was made within the context of EastOne’s portfolio strategy that implies, in particular, investing in a number of investment-attractive sectors with growth potential, including telecommunications.

At the same time, Bertofan Investments Limited, being an independent investor and a shareholder of VimpelCom Ltd, has been independently carrying out, and continues to independently carry out, actions that, in its opinion, facilitate the growth of the company and, accordingly, lead to the increase in the value of the shares. Bertofan Investments Limited and EastOne Group reserve all rights and remedies to take any legal actions in connection with the abovementioned groundless statements by Telenor.

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