December 8, 2014 / 4:22 PM / 3 years ago

Telenor's CEO resigns from Vimpelcom's board amid probe

OSLO, Dec 8 (Reuters) - Telenor said on Monday its Chief Executive Jon Fredrik Baksaas has stepped down from the supervisory board of the U.S.-listed Vimpelcom over a corruption probe related to Vimpelcom’s entry into the Uzbekistan market.

“Corruption allegations and speculations are serious and Telenor as a minority owner will continue to take necessary actions to protect its interests,” the Norwegian telecoms firm, which holds 33 percent stake in Vimpelcom, said in a statement.

“By stepping down from the supervisory board of Vimpelcom, Jon Fredrik Baksaas will eliminate any potential conflict of interest under the circumstances,” it added. (Reporting by Nerijus Adomaitis)

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