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Russia's dismal investment climate: Courting disaster
Oleh:
The Economist
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 392 no. 8638 (Jul. 2009)
,
page 57.
Topik:
Telenor
;
Altima
;
Foreign Investment
;
Financial Crisis
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.56
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
THE website of Telenor, a state-controlled Norwegian telecoms firm, has a special section dedicated to its investments in Russia and its dispute with Alfa Group, its Russian partner. It is a long and unhappy saga filled with headings such as “Geneva arbitration”, “Court abuses” and “Black PR campaigns”. Telenor and Altima, the telecoms arm of Alfa, are shareholders in both VimpelCom of Russia and Kyivstar of Ukraine. In 2004 Altima, which wanted to expand its business in Ukraine further, suggested that VimpelCom buy another Ukrainian telecoms firm. Telenor resisted, saying that the price was too high. Altima accused Telenor of sabotaging its growth. For several years the dispute rambled on, with several attempts at arbitration and suits and countersuits in various courts around the world. Then a company called Farimex entered the fray. It is registered in the British Virgin Islands and owns a 0.002% stake in VimpelCom. It complained to a court in Siberia that Telenor (which has no business in Siberia) had obstructed VimpelCom’s entry into the Ukrainian market. The Siberian court ordered Telenor to pay compensation of $2.8 billion, a sum that was reduced to $1.7 billion on appeal.
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