Algeria still in discussions with Vimpelcom for Djezzy

8 Nov 2013

The Algerian finance minister Karim Djoudi has revealed that the government has been in ‘daily negotiations’ with the Russian-backed Vimpelcom Group regarding the former’s purchase of local mobile subsidiary Djezzy, Agence Ecofin reports. According to the article, the minister stated that the discussions need ‘to address several financial issues’ and an agreement with Vimpelcom should be reached ‘soon’.

According to TeleGeography’s GlobalComms Database, the North African country’s government has been in discussions for more than two years to purchase a stake in the lucrative Djezzy unit, which was previously controlled by Egyptian telecoms tycoon Naguib Sawiris through his Orascom Telecom Holding (OTH) unit, which was merged with Vimpelcom in a USD6.5 billion deal in April 2011.

Algeria, Optimum Telecom Algerie (Djezzy), Orascom Investment Holding (formerly OTMT), VEON