Telenor is a Norway based company and it is the sixth largest cell phone operator of the world with having 203 million subscribers. Telenor is having its setup in almost 13 countries worldwide. It also provides broadband and TV services to its subscribers but it varies from country to country according to technology.
* Appeal court rejects delay of enforcement of fine
* Telenor concerned could lose stake in Vimpelcom
* Telenor yet to decide on whether to appeal decision
* Key appeal on actual ruling to be heard Sept. 30
Norway’s Telenor lost another round of its Russian legal battle on Thursday, when a Moscow appeals court rejected its latest attempt to delay the enforcement of a $1.7 billion fine owed to Russian telecoms firm Vimpelcom.
Telenor faces the prospect of losing its stake in Vimpelcom after Russian bailiffs in June ordered the sale of its shares to cover the fine that a Siberian court imposed for holding back Vimpelcom’s expansion in Ukraine.
Telenor Pakistan faced an operating loss of $14.3 million in the first quarter of 2009, following a loss of $ US 49 million in 2008. Average revenue per user in Pakistan stood at just Rs. 252 ($ US 3) per subscriber per month in the first quarter, the lowest in all 13 countries in which [...]