The Algerian government has launched a tender to select an adviser with a view to nationalising mobile operator Djezzy.
This is a blow for Russia’s VimpelCom, which earlier this month announced an agreement to buy most of Naguib Sawiris’ telecoms assets,…
The Algerian government has launched a tender to select an adviser with a view to nationalising mobile operator Djezzy.
This is a blow for Russia’s VimpelCom, which earlier this month announced an agreement to buy most of Naguib Sawiris’ telecoms assets, including the Algerian unit.
Last week, VimpelCom’s CEO Alexander Izosimov reportedly threatened to sue the Algerian government if it undervalued Djezzy. He said that a fair price for Djezzy would be US$7.8bn, while Algeria reportedly values it at US$2-3bn.
Izosimov reportedly took part in the trip to Algeria of Russian president Dmitri Medvedev to try to convince the authorities to abandon takeover plans over Djezzy.
But this has proved unfruitful since yesterday the finance minister reportedly advertised in a newspaper a tender to choose an adviser for the acquisition of Orascom Telecom Algeria with deadline due by November 24.
Meanwhile, Naguib Sawiris reportedly said that he had decided to abandon all executive roles to focus on humanitarian work.
