MOSCOW/OSLO (Reuters) – Norwegian group Telenor is pursuing a court injunction which could derail Russian company Vimpelcom’s planned $6+ billion purchase of Egyptian tycoon Naguib Sawiris’s Wind Telecom.
Russian billionaire Mikhail Fridman’s Alfa-Group, the other main owner of Vimpelcom, backs the deal, which would make the Russian operator one of the world’s biggest by giving it control of Egyptian group Orascom Telecom and Wind Italy.
OSLO/LONDON, Feb 16 (Reuters) – Gas exports from Norway to
Britain were ramping up on Wednesday following a brief shutdown
at the Nordic country’s biggest offshore gas field, Troll, and
reduced capacity at a major gas processing plant, Kaarstoe.
National Grid data showed gas supplies via the Langeled
pipeline were gradually resuming early on Wednesday, climbing to
nearly 50 million cubic metres (mcm) per day at 0830 GMT, from
around 15 mcm seen overnight.
NESBRU, Norway (Reuters) – The Philippine government and Maoist communist rebels sat down for their first formal peace negotiations in more than six years on Tuesday despite the arrest of a senior insurgent on the eve of the talks.
The negotiations in the Oslo suburb of Nesbru and facilitated by Norway are not expected to produce immediate results to end an insurgency that dates back half a century. But the sides may agree to hold more talks and extend a cease-fire.
MOSCOW/OSLO, Feb 10 (Reuters) – Russia’s Altimo has asked
Telenor (TEL.OL: Quote, Profile, Research, Stock Buzz), its Norwegian co-owner of Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz),
to speed up the legal process that it hopes will settle a
dispute over Vimpelcom’s plan to take over Egypt’s Orascom
(ORTE.CA: Quote, Profile, Research, Stock Buzz) and Italy’s Wind.
Altimo, the telecoms arm of Russian billionaire Mikhail
Fridman’s Alfa-Group, said in a statement on Thursday it thought
an ‘expedited arbitration’ with a final decision by March 7
could resolve the dispute.
OSLO, Feb 9 (Reuters) – Statoil’s (STL.OL: Quote, Profile, Research, Stock Buzz) fourth quarter
results came in below forecasts on Wednesday and the Norwegian
oil major said output could fall this year, highlighting the
problems it faces from declining North Sea fields.
The company said its oil and gas production would be steady
or lower in 2011 due to field maintenance. It also curbed its
2012 output goal.
OSLO/STOCKHOLM (Reuters) – Norway’s Telenor (TEL.OL: Quote, Profile, Research, Stock Buzz) took a fresh swipe at its estranged Russian affiliate Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz) on Tuesday, saying the company has taken its eye off the ball at home as it pursues expansion abroad.
The move came as Norway’s dominant telecoms provider posted strong fourth-quarter earnings on the back of Asian growth. Telenor also sweetened its above forecast core earnings with a large dividend proposal coming at a time when its Russian operations are under threat and its biggest recent expansion, into India, is at the center of a corruption scandal.
OSLO (Reuters) – Norway’s Telenor ASA (TEL.OL: Quote, Profile, Research, Stock Buzz) took a fresh swipe at part-owned Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz) over its expansion plans on Tuesday as it posted a rise in fourth-quarter earnings on the back of strong Asian growth.
Adjusted earnings before interest, tax, depreciation and amortization were 7.18 billion crowns ($1.24 billion) in October-December, compared with 6.93 billion a year earlier and a 6.92 billion average forecast from a Reuters poll.
OSLO (Reuters) – Anti-secrecy website WikiLeaks has been nominated for the 2011 Nobel Peace Prize, the Norwegian politician behind the proposal said on Wednesday, a day after the deadline for nominations expired.
The Norwegian Nobel Committee accepts nominations for what many consider as the world’s top accolade until February 1, although the five panel members have until the end of the month to make their own proposals.
OSLO, Feb 2 (Reuters) – Norwegian solar energy parts maker Renewable Energy Corp (REC.OL: Quote, Profile, Research, Stock Buzz) beat quarterly profit forecasts
on Wednesday and voiced confidence in the troubled market for
The maker of parts for power production throughout the solar
value chain saw its shares jump as much as 13 percent as
investors weighed the news in the context of overproduction and
curbs in state subsidy schemes. [ID:nLDE70U0TS]
OSLO (Reuters) – Telenor is preparing for possible legal action to block Vimpelcom’s $6 billion bid to expand its telecoms empire outside Russia now that an attempt to build shareholder opposition looks doomed.
Reuters talked to five independent Vimpelcom shareholders. Their responses indicated a potential split that would leave the Norwegian company short of the support it needs at a vote due on March 17.