Algeria’s finance minister Karim Djoudi was quoted telling reporters in parliament today that Algeria has finally received a valuation for local mobile operator Djezzy.
He reportedly added that talks over nationalising the company have now begun. No…
Algeria’s finance minister Karim Djoudi was quoted telling reporters in parliament today that Algeria has finally received a valuation for local mobile operator Djezzy.
He reportedly added that talks over nationalising the company have now begun. No further details were provided regarding the valuation itself.
The finance ministry was not available for comment before the press deadline.
Russian telco VimpelCom and the Algerian government have been embroiled in a dispute over the ownership of Djezzy for almost a year.
In May 2011, VimpelCom acquired the Algerian carrier as part of its merger with Wind Telecom, the parent company of Djezzy’s owner, Orascom Telecom (OTH).
But before the acquisition was completed, Algeria announced plans to nationalise Djezzy following a tax dispute with Orascom.
Early this year, VimpelCom agreed to sell a majority stake in Djezzy to Algeria, subject to an agreement on price.
VimpelCom currently owns a 51.7% stake in OTH, which in turn holds a 96.81% stake in Djezzy.
