Algeria is in talks with Russian operator VimpelCom to find a resolution for the ownership dispute of Algerian mobile operator Djezzy, Algerian finance minister Karim Djoudi was quoted saying.
VimpelCom Ltd acquired Djezzy as part of the merger with…
Algeria is in talks with Russian operator VimpelCom to find a resolution for the ownership dispute of Algerian mobile operator Djezzy, Algerian finance minister Karim Djoudi was quoted saying.
VimpelCom Ltd acquired Djezzy as part of the merger with Wind Telecom, the parent company of Djezzy’s owner, Orascom Telecom. But before the merger was completed, the Algerian government said it would nationalise Djezzy after accusing Orascom Telecom of tax irregularities. Last January Algeria hired Shearman & Sterling to value the mobile operator.
According to a Reuters report, Djoudi said that the valuation of the operator was a crucial step in determining the unit’s future and that VimpelCom was willing to resolve the issue quickly.
There has reportedly been speculation that the government could acquire 51% of Djezzy, while VimpelCom would retain the rest.
