“We are happy with today’s decision, which we think is a just and beneficial result for Kyivstar and its subscribers,” said Dag Melgaard, Telenor Vice President for Corporate Communications.

In addition, Telenor today said that, to end the various Ukrainian lawsuits brought by Storm and other Alfa affiliates, Telenor would continue to pursue its New York arbitration proceeding against Storm under the Kyivstar Shareholders Agreement.

"The cases filed by Storm in Ukrainian courts have only one objective — to undermine Telenor's control of Kyivstar," said Melgaard. "The Higher Commercial Court has agreed with the lower courts and dismissed this case as there are no grounds for overturning a valid negotiated agreement".

Telenor owns a 56.5 per cent stake in Kyivstar, and Storm holds the remaining 43.5 per cent.