GIC to take 20% stake in Wataniya’s Algerian start up

19 May 2004

Kuwaiti group Wataniya Telecom yesterday announced that Gulf Investment Corporation (GIC) is to provide investment for its fledgling Algerian mobile operations. The agreement, which is still pending approval by Algeria’s regulators, will see GIC take a 20% stake in Wataniya Telecom Algerie for around USD42 million. Wataniya plans to launch mobile services in Algiers, Oran and Constantine by the end of the year.

Algeria, Ooredoo Algeria