The primary aluminum market in China is believed to have been largely balanced for 2011 and is expected to remain so in 2012
We estimate a demand growth of about 3%-5% in 2012 in the world outside China ... However, market sentiment continues to be influenced by significant economic uncertainty.
At best, Telenor can claim damages from the government under the investment bilateral treaty
The legality and validity of the licenses was a fundamental term of the share subscription agreement between Telenor Group and Unitech Limited
At the moment, voting rights in VimpelCom are our priority and not the dividends
This transaction takes Telenor to approximately the same voting position as a successful outcome of the arbitration process would have achieved, and is therefore a commercial solution we are happy with
What they’re effectively doing is postponing the payment rather than eliminating it altogether
It’s undoubtedly a near-term positive, mainly because it means they’re only going to be paying $374 million to maintain their voting interest instead of $2.8 billion which they might have had to spend to exercise their preemptive rights in the arbitration case
It is Telenor Group's position that the strategic partnership with Unitech Limited does not have a future, and it therefore will start the process of looking for a new Indian partner
At best, Telenor can claim damages from the government under the investment bilateral treaty. We reserve our right to take appropriate legal action against Telenor for damages caused to Unitech Group from breach of the confidentiality obligation by Telenor