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Telenor says VimpelCom provision increases concerns

Telenor says VimpelCom provision increases concernsOSLO: Norwegian telecoms company Telenor said on Tuesday a provision announced by international telecoms group VimpelCom, of which Telenor owns 33 percent, increased the firm’s concerns.

“Telenor Group sees VimpelCom’s announcement today as a serious development that significantly increases our concerns in relation to the potential outcome of the still ongoing investigations,” Telenor said in a statement.

VimpelCom said on Tuesday it will take a provision of $ 900 million in relation to an ongoing investigation by US and Dutch authorities into its business in Uzbekistan.

Copyright Reuters, 2015

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