"The real issue here is that Ukraine must maintain the principle that shareholders have the right to determine the governing structures of the assets they own. This principle is critical to any free market and to any future investment in Ukraine. In this and other cases, Storm seeks an interpretation of the law that would give each shareholder in a Ukrainian closed joint stock company an equal say on its board of directors, regardless of the number of shares owned by the parties," said Dag Melgaard, Vice President, Corporate Communications of Telenor. "Telenor has not received any documents confirming Storm’s appeal or the injunction, and we believe the ruling on June 27th by the Higher Commercial Court of Ukraine is a well-reasoned and sensible interpretation of Ukrainian corporate law. Despite the fact that Alfa has agreed that Telenor would have a greater voice in the management of the Kyivstar, and agreed in the Kyivstar Shareholders Agreement to arbitrate all disputes in New York, Alfa and its affiliates have commenced nine separate lawsuits throughout Ukraine, abusing the Ukrainian court system in an effort to gain more control of Kyivstar without purchasing that control. Telenor strongly objects to such acts."