Algeria: no change in plans to buy Orascom Tel unit
Orascom Telecom Holding (OTH) launched an operation with the Russian partner-says Finance Minister.
October 21, 2010 2:32 by Reuters
Algeria’s government is proceeding with its plan to buy the Djezzy mobile phone unit from Orascom Telecom despite Vimpelcom’s deal to acquire Orascom assets, Algeria’s finance minister said.
“Orascom Telecom Holding (OTH) launched an operation with the Russian partner. Regarding Algeria, we have a relationship with Orascom Telecom Holding,” Finance Minister Karim Djoudi told reporters on Thursday.
“We have started an acquisition operation with OTH. OTH has expressed its willngness to sell us Djezzy … We now have to assess the value of the transaction,” he said.
(Reporting by Hamid Ould Ahmed; Writing by Christian Lowe; Editing by David Holmes)