Telenor extends deadline for planned Kyivstar takeover

Norway's Telenor extended to April 14 a deadline for Alfa Group and Vimpel Communications to consider a proposal to buy Kyivstar for $5 billion.

Telenor earlier made a proposal for VimpelCom, Russia's second largest mobile operator, to buy Kyivstar, Ukraine 's largest wireless provider, for $5 billion in cash, setting a deadline of March 31.

Telenor owned 27% of VimpelCom and 57% of Kyivstar, while Alfa owned 33% and 43% of the two companies, respectively, the report said.

The parties had been in dispute over VimpelCom's strategic development for more than a year, the report said.

In a statement, Telenor said it was extending the deadline in order to give VimpelCom and Alfa "more time to think."