The Algerian government and Russia’s Vimpelcom are reportedly drawing close to reaching an agreement on the sale of Algerian mobile operator Djezzy.
Speaking at an industry event in Qatar, Algeria’s telecoms minister Moussa Benhamadi said he expects…
The Algerian government and Russia’s Vimpelcom are reportedly drawing close to reaching an agreement on the sale of Algerian mobile operator Djezzy.
Speaking at an industry event in Qatar, Algeria’s telecoms minister Moussa Benhamadi said he expects Djezzy’s valuation to be finalised by the end of March.
Vimpelcom acquired Djezzy as part of its merger with Wind Telecom, the parent company of Djezzy’s owner, Orascom Telecom in May 2011.
But before the acquisition was completed, Algeria had said it planned to nationalise Djezzy following a tax dispute with Orascom.
In January this year, Vimpelcom announced it agreed to sell a majority stake in Djezzy to Algeria, subject to agreement on price and certain other considerations.
As previously reported, Algeria’s Minister of Finance said the government will acquire a 51% stake in Djezzy.
Vimpelcom currently owns a 51.7% stake in OTH which, in turn, owns a 96.81% stake in Djezzy.
Neither the Algerian telecommunications ministry nor Vimpelcom was immediately available for comment.
