Algeria against sale of Djezzy to MTN

5 May 2010

Algeria’s government has said it is against the sale of Orascom Telecom Holding SAE’s local mobile operator Orascom Telecom Algerie (more commonly known as Djezzy) to any foreign party. Finance minister Karim Djoudi told state-run Radio Algerie: ‘Algeria refuses the sale of Orascom Telecom Algerie to any foreign party and warns the Egyptian company of breaching the Algerian laws.’ Djoudi said the government will exercise its right of first refusal for the stake, if the Cairo-based firm decides to sell. Algiers said it opposed any deal for South Africa’s MTN Group to acquire Djezzy, which is 90% owned by Orascom Telecom, and warned that any transaction could lead to the withdrawal of the business’s telephone licence.

Algeria, Global Telecom Holding (GTH, formerly OTH), MTN Group, Optimum Telecom Algerie (Djezzy)