Telenor cuts Veon stake in $250m block sale

By Jon Hay
10 Apr 2017

Telenor, the Norwegian telecoms company, has sold a 4% stake in Veon, the Russian telco formerly called VimpelCom, for $262.5m through a block trade.

Citigroup and Morgan Stanley were global coordinators on the trade, conducted after the US market closed on the evening of Thursday April 6. The sale was neither auctioned nor wall-crossed.

“The market was aware of [the trade being a possibility],” said a banker on the deal. “The shares ...

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