The Norwegian government has forced the resignation of Telenor chairman Svein Aaser after new information about investigations into Vimpelcom’s operations in Uzbekistan came to light.
Telenor on Friday announced that Aaser has stepped down, effective immediately, after three and a half years in the role.
"The Ministry and I have had different views on the handling of the Vimpelcom issue," Aaser said, in a statement, referring to the country’s Ministry of Trade, Industry and Fisheries. He declined to comment further.
Industry minister Monica Mæland shed a little more light on the situation.
"I no longer have c onfidence in the chairman of Telenor," she said in a Norwegian-language government statement on Friday.
Mæland said she has received new information about the Vimplecom case, information she should have had at an earlier date. "It’s serious," she said.
"Because of the investigation, I can not yet say more about the new information we have received," she said.
Law enforcement authorities in several countries, the U.S. and the Netherlands included, are investigating Vimpelcom’s operations in Uzbekistan, following allegations of bribery and corruption.
Telenor has repeatedly distanced itself from any wrongdoing in the market.
"The Vimpelcom case has been ongoing for several years, and it has been demanding and complex to manage,” Aaser said, on Friday.
"I would like to emphasise that it is Vimpelcom that is under investigation and that Telenor has fully cooperated with investigating authorities as a witness," he insisted. "The company continues to await the outcome of the investigation."
Earlier this month the Norwegian telco announced plans to sell off its 33% stake in Vimpelcom, which it values at 20 billion kroner (€2.1 billion), in order to focus on its core operations in Europe and Asia.
Speaking on the telco’s third quarter results call this week, new CEO Sigve Brekke confirmed that "the sales process has been initiated," but it will be an orderly process "that will take some time."
It is a complex situation, Brekke said, reiterating that Telenor is "not going to do any fire sale."
