Djezzy talks continuing, Algeria says

4 Sep 2012

The Algerian government has confirmed that talks over the future of cellular operator Djezzy are still continuing, Reuters reports. The state is looking to re-nationalise a 51% stake in Djezzy and is denying that talks with Djezzy’s Russia-based parent company Vimpelcom have stalled. Vimpelcom agreed to a sale at the start of this year but the two parties have been unable to agree on a valuation. To further complicate matters, Vimpelcom has launched a legal appeal against a USD1.3 billion fine imposed upon Djezzy for alleged breaches of foreign exchange regulations.

Algeria, Optimum Telecom Algerie (Djezzy)