Telenor will sell VimpelCom shares

Telenor plans to sell almost a quarter of its shares in Vimpelcom.

In a stock exchange announcement on Monday morning the group informs that they will lay out 42.5 million of its shares for sale through a public offering in the United States.

It’s all about Telenor’s American depositary shares in Vimpelcom.

Telenor owns about 580 million shares in the company. This corresponds to around 33 percent of outstanding shares. The transaction amounts to 24.5 percent of shares owned by Telenor and 8.1 percent of all shares in Vimpelcom.

Source: NTB scanpix / Norway Today