Following a lengthy presentation of evidence, the court provided the plaintiff, Telenor, the opportunity to present additional arguments. The judge allowed this opportunity after Telenor reviewed documents provided only today by VimpelCom’s lawyers. The case concerns Telenor's claim to invalidate the September 14, 2005 decision of VimpelCom's Extraordinary General Meeting of shareholders (EGM) relating to the acquisition of URS.

The court also requested VimpelCom provide additional information and explain the role of Eco Telecom Limited in convening the extraordinary general meeting of shareholders.

"We are pleased with the decision of the court to continue the hearing in order to hear further arguments at our disposal, discovered after reviewing documents provided by VimpelCom at today’s hearing," said Telenor Executive Vice President and Head of Eastern/Central Europe, Jan Edvard Thygesen. "We are also pleased that the judge is requesting further explanation from VimpelCom, following Telenor’s arguments in the case.”

Telenor believes the violations of VimpelCom's charter that occurred in relation to the convening of VimpelCom's September 14, 2005 EGM are sufficiently significant that the decision of the EGM should be invalidated, and looks forward to the court considering all its arguments in the hearing on May 15th.

Telenor believes the most attractive way for VimpelCom to enter Ukraine is Telenor’s proposal for VimpelCom to acquire Kyivstar for cash, which is subject to Telenor and Alfa entering into an agreement providing for a market-based separation mechanism.

On Thursday, Altimo agreed to Telenor's proposal to establish a process to discuss the parameters of such a mechanism. The management of VimpelCom has already indicated its belief that the acquisition of Kyivstar is a better way for VimpelCom to enter the Ukrainian market.