MOSCOW, November 28 - RAPSI. On Wednesday, the Government Commission on Monitoring Foreign Investment may pass a final resolution on the situation concerning the share of Norwegian Telenor in VimpelCom Ltd, the Prime business news agency reported.

VimpelCom Ltd is the full owner of Russia's VimpelCom (Beeline trademark, one of Russia's largest telecommunications providers).

The Russian government's press service reported that, among other things, the commission plans to consider the motions of Russian and foreign investors on transactions dealing with communication services.

Previously, Igor Artemyev, the head of the Federal Antimonopoly Service, told Prime that the agency had filed a draft resolution with the commission which would settle the dispute over Telenor's share in VimpelCom.

On November 23, the Federal Antimonopoly Service recalled the lawsuit it submitted to the Moscow Commercial Court against Telenor to invalidate its purchase of VimpelCom Ltd. shares; the interim measures under the lawsuit were removed, the agency's press release read.

The statement said that Federal Antimonopoly Service head Igor Artemyev had submitted a motion to the court on November 23 to recall all the service's claims regarding Telenor, including the interim measures previously taken.

The Federal Antimonopoly Service earlier disputed a transaction between Telenor and Weather - owned by Egyptian businessman Nagib Savirirs - that resulted in the Norwegian company becoming the largest shareholder in VimpelCom, with a 39.5 percent stake. VimpelCom has a 100 percent stake in the Russian communications major of the same name.

However, another shareholder, Altimo, which controls Alfa Group's telecommunication assets, subsequently increased its stake in VimpelCom to 47.85 percent from 41.9 percent after buying the shares of Bertofan Investments Limited, owned by Ukrainian businessman Viktor Pinchuk. Thus, the foreign investor can no longer have control of a strategic Russian company.

VimpelCom was established in autumn 2009 as the result of a merger between Altimo, which manages the telecommunication assets of VimpelCom's major shareholder Alfa Group, and Telenor interests in Russia's VimpelCom and Ukraine's Kievstar. In mid-April 2011 VimpelCom merged with Wind Telecom (former Weather Investments) to become the world's sixth leading cellular operator in terms of user numbers.

Altimo, a Russian shareholder, holds a 40.5 percent stake in VimpelCom Ltd. Telenor was also prohibited from implementing the option contract under the watchdog's lawsuit.