The Supreme Court reversed SECU (Ukrainian Supreme Economy Court) judgement which had reversed in its turn the initial SECU decision to give Telenor (56.5%) and Storm (43.5%) equal franchise in Kyivstar Boards of Directors.
According to Mikhailo Il’yashev, a Senior Partner of Il’yashev & Partners Co, the Supreme Court of Ukraine considered the relevance of two Kyivstar statute regulations: regarding the representation both Telenor and Storm in the Board of Directors of the Ukrainian mobile operator and the procedure of an appointment of the director (Telenor nominates a candidate and Storm must support it).
Telenor has no choice but to obey to the Supreme Court decision and to bring Kyivstar GSM statute in correspondence with the requirements of Ukraine’s legislation as it was demanded by Storm, Il’yashev concluded.
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