Russian mobile carrier VimpelCom (VIP -10.9%) slumps after receiving an injunction from Russian...

|About: VimpelCom (VIP)|By:, SA News Editor

Russian mobile carrier VimpelCom (VIP -10.9%) slumps after receiving an injunction from Russian antitrust regulators that stems from a ruling shareholder Telenor illegally acquired preferred shares of VimpleCom from fellow carrier Weather Investments. As a result, a VimpelCom subsidiary is barred from paying dividends, and the powers of its board and auditors have been suspended. This, in turn, has led VimpelCom itself to defer a dividend payment. (previous)