Orrick advised Norwegian mobile telecom company Telenor ASA (OSL: TEL), a longstanding firm client, in its $500 million public offering in the United States of 142.5 million of its VimpelCom Ltd. (NASDAQ: VIP) American Depository Shares (ADSs), as well as a Regulation S offering outside the U.S. to non-U.S. persons of $1 billion of 0.25% bonds due 2019 that are exchangeable for VimpelCom ADSs. Telenor has granted the underwriters an option to purchase up to 21.375 million additional VimpelCom ADSs at the public offering price.  After giving effect to its sale of ADSs in the offering, Telenor will own 24.9% of VimpelCom.

Morgan Stanley and J.P. Morgan acted as joint global coordinators and joint bookrunners, and Citigroup and Credit Suisse acted as joint bookrunners for the two offerings.
The Orrick team advising Telenor was led by emerging markets partners Peter O'Driscoll and Nell Scott and included counsel Sushila Nayak and associates Daria von Mensenkampff, Susannah Nagle, Colton Carothers, Konstantin Kasyan, Daniela Ritter, Saira Henry, Filippo Cristaldi and Gregoire Jouffroy. Tax advice was provided by partners John Narducci and Ed Denny and associate James Larkin.