Vimpelcom's supervisory board has approved the operator's proposed takeover of Weather Investments. Six of the nine board members approved the transaction, including all three independent members and the three Altimo representatives, while Telenor's three members voted against the deal. As a result of Telenor's opposition, the board was unable to agree on amendments to the Vimpelcom shareholders' agreement needed for the deal to go ahead. Vimpelcom said its CEO will negotiate further with Weather the terms and conditions under which Weather would be willing to enter into a revised transaction, taking into account that the shareholder related agreements are unlikely to be signed and delivered.
