Telenor Group is one of the oldest and fastest growing companies in telecom sector which spreads over different countries around the globe. It has more than 150 years of accumulated experience within telecommunications, coupled with a pioneering spirit and a quest for knowledge and development. The Group has mobile operations in 11 markets around the globe and in additionally 10 markets through its 39.6 per cent ownership in VimpelCom Ltd (one of the largest mobile connection providers in Russia).
In mid 90s, Telenor was in a strong position to expand its communication services internationally. Many of the telecommunication solutions could be implemented across national borders and in diverse countries. The Telenor management saw the opportunity to exploit the value of the innovative technological solutions by implementing these abroad. And, it was the time when lot of acquisition was being started by the Telenor Group in different areas of the world (i.e Grameen Phone in Bangladesh, Telenor in Pakistan and recently Uninor in India at the end of year 2009).
In year 2010, Telenor acquired the 1.95 million shares of Maritime Communication Partner (MCP) out of its total outstanding shares of 2.0 million. MCP is known as one of the leading global suppliers of mobile communication to ferries and cruise ships (a market which is growing rapidly). Through MCP, Telenor availed the opportunity to capture the market where mobile network services still have the potential to grow and it enormously increased in the revenue of the Group in year 2010.
Requirements:
1.Telenor Group has how much voting right in MCP?
2.Does control exist of Telenor Group in MCP?