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GTH to sell majority stake in Algeria telco for $2.6bnEgypt's Global Telecom (GTH), formerly known as Orascom Telecom, will sell a 51 per cent stake in Djezzy for $2.6 billion while keeping operational control of the Algerian mobile operator, Global said in a statement on Sunday. More… |
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Sawiris launches $5bn claim against AlgeriaWeather Investments (WI), a company headed by Egyptain businessman Naguib Sawiris, has launched a $5 billion claim against Algeria for damage to the company's stake in Orascom Telecom Algérie (known as Djezzy). More… |
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Algeria to pay $6.5bn for Djezzy stakeAlgeria will pay $6.5 billion to acquire a controlling stake in Vimpelcom's Algerian mobile phone unit, a top finance ministry source said on Wednesday, potentially ending a dispute that has dragged for over a year. "The deal is that Alger More… |
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Djezzy valued at $7bn says reportOrascom Telecom climbed 10 per cent after an Egyptian newspaper reported that a law firm charged with valuing the company's Algerian unit said Djezzy was worth $7 billion, traders said. Djezzy, Orascom's Algerian unit and its single bigges More… |
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Algeria appoints adviser on Orascom unitAlgeria has provisionally appointed law firm Shearman & Sterling LLP to advise it on the nationalisation of Orascom Telecom's local mobile phone unit, the official news agency reported on Monday. The firm is scheduled to complete withi More… |
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Orascom may seek arbitration on Algeria unitOrascom Telecom (OT) will seek international arbitration soon in a dispute with Algeria's government over the Egyptian company's unit Djezzy, OT's chairman was quoted as saying. A planned $6.6 billion sale of OT assets to Russia's Vimpelco More… |
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Market will decide Djezzy price: AlgeriaAlgeria will pay a market price to nationalise Orascom Telecom's local unit, the country's telecoms minister said on Wednesday, but he declined to give a figure or say when an offer would be made. The Egyptian firm reluctantly agreed to ta More… |
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Algeria to name price for Djezzy by mid-2011The Algerian government is likely to make an offer to buy Orascom Telecom's local mobile phone unit by the middle of next year, Algerian government and telecoms sources said. Orascom Telecom has over $3 billion of debt maturing between More… |
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Legal action last resort, says OrascomEgypt's mobile phone company Orascom Telecom said it still hoped to resolve a dispute with the Algerian government over its Djezzy unit although it did not rule out arbitration as a last resort. 'There is an international tender to More… |
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Orascom Tel must settle debts before deal: AlgeriaOrascom Telecom must settle all its liabilities before Algeria will conclude a deal to nationalise the Egyptian firm's local mobile phone unit, Algerian Prime Minister Ahmed Ouyahia said on Sunday. Orascom Telecom has reluctantly agreed to More… |
