Telenor ASA — M&A Activity 2010

Oct 4, 2010

VimpelCom signs agreement with Weather Investments

VimpelCom Ltd. [VIP], where Telenor owns 39.6%

economic interest and 36.0% voting interest, on 4

October 2010 announced that they have signed an

agreement to combine the VimpelCom Ltd. Group with

Weather Investments S.p.A. If the transaction is

completed, Telenor's ownership in VimpelCom will be

31.7% economic and 29.3% voting post transaction.

The transaction requires final approval from the

VimpelCom Ltd. board. For more details, please see

press release from VimpelCom Ltd. on

http://www.vimpelcom.com