MOSCOW, June 8 (RIA Novosti) - The Russian Bailiff Service said on Monday it had prepared documents to auction off a 26.6% stake in Russian mobile firm VimpelCom held by Norway's telecoms giant Telenor.
The stake was seized under a court order in March as part of a long-running dispute between Telenor and Russia's Alfa Group, the two main shareholders in VimpelCom, over the operator's move into the Ukrainian market. Each party has filed several lawsuits in the past few years.
Following the latest lawsuit filed by Farimex, which is registered in the British Virgin Islands and holds 0.002% of VimpelCom's stock, Russia's 8th Arbitration Appeals Court in late February ordered Telenor to pay $1.728 billion to VimpelCom.
The lawsuit claimed the Norwegian telecoms operator had delayed a deal to purchase Ukrainian cell phone operator Ukrainian Radio Systems.
In 2004-2005, Telenor resisted VimpelCom's attempt to enter the Ukrainian market and buy into cell phone operator Ukrainian Radio Systems, as it put VimpelCom in direct competition with the Norwegian company's other interests in Ukraine.
A total of 26.6% of Telenor's stake in VimpelCom has been frozen as part of February's court ruling on the Farimex lawsuit.
A Moscow court rejected on June 3 an appeal from Telenor to suspend the order to pay $1.728 billion to Russia's second largest mobile phone operator VimpelCom, in which it holds 29.9%.
