MOSCOW, July 31 - RAPSI. The Federal Antimonopoly Service and Telenor have agreed to appoint a Russian citizen as the chief of VimpelCom Ltd., the watchdog's head Igor Artemyev told journalists.
The government commission for control over foreign investments in strategic sectors approved in Monday the conditions to resolve a dispute between the watchdog and Norweays Telenor on its interest in VimpelCom. The details have not been fully disclosed.
The commission has instructed the relevant ministries and departments to comment on the conditions and to deliver their comments to Telenor as soon as possible.
"We have agreed that a Russian citizen will head VimpelCom," Artemyev said.
The Russian's appointment to the Dutch telecommunications company is not the only condition for the dispute's settlement, but Artemyev declined to reveal further details.
The watchdog sued Telenor in Russia to invalidate its acquisition of VimpelCom's shares from Weather Investments, owned by Egyptian businessman Nagib Sawiris. As a result of the transaction, Telenor increased its stake in VimpelCom Ltd. to 36.36 percent from 25.01 percent.
In the watchdog's opinion, Telenor broke foreign investment regulations as it failed to agree on increasing its shares in VimpelCom, which owns 100 percent of its Russian business unit.