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7 September 2009

Asters Advised Telenor on Kyivstar Dividends

At the special general meeting of Kyivstar G.S.M held on 1 September 2009 shareholders resolved to approve 2008 annual results of the company and to pay out dividends in the amount of UAH 1.9 billion. Asters, being the legal counsel of Norwegian telecommunications company Telenor, which holds 56.5% of Kyivstar's equity, advised and completed the legal work necessary for the dividends payout.

Earlier, in June 2009 and in December 2008, Asters provided advice on preparation of the meetings of Kyivstar shareholders. Among other important issues, the meetings resolved on paying out dividends for 2004-2005 in the amount of UAH 3.46 billion and for 2006-2007, UAH 4.6 billion, respectively.

The legal support was provided by Asters’ telecommunications practice group headed by Oleksiy Didkovskiy, Asters Managing Partner, associates Ganna Novodvorska and Kostyantyn Solyar, also involving Igor Svechkar, Partner in charge of the antitrust practice group, and associate Oleg Furmanchuk.

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