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2016-02-18

Telenor: VimpelCom reaches USD 795 million settlement agreement with US and Dutch Authorities

(Fornebu 18.02.2016) VimpelCom Ltd., in which Telenor ASA currently holds a
33% stake, has today announced that the company has admitted FCPA violations
and reached a settlement agreement with US and Dutch authorities after
investigation relating to VimpelCom's business in Uzbekistan and prior
dealings with Takilant Ltd. As part of the settlements, VimpelCom will pay
USD 795 million in fines and disgorgements to US and Dutch authorities, and
retain an independent corporate monitor for at least three years.

Corruption is unacceptable and it is very serious that VimpelCom now has
admitted to violations of the US Foreign Corruption Practices Act and
relevant Dutch Laws.

Telenor has fully cooperated with investigating authorities as a witness.

The fines are within the provision that VimpelCom has previously made for this
purpose.

Contact:
Severin Roald, Telenor ASA, Mobile: +47 920 30 033
Glenn Mandelid, Telenor ASA, Mobile: +47 926 61 3 00

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Telenor via Globenewswire

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