VimpelCom eyes $6.5bn for Djezzy - report

Deal could end long-running dispute between Algeria and VimpelCom
Algeria's dispute with VimpelCom and Orascom has run on for more than a year.
Algeria's dispute with VimpelCom and Orascom has run on for more than a year.


Algeria will pay $6.5 billion to acquire a controlling 51% stake in Djezzy, VimpelCom's Algerian mobile operation, according to a report from Reuters, which cited a top finance ministry source.

In January, VimpelCom signed a non-binding Memorandum of Understanding with the government of Algeria to explore the sale of its majority stake Djezzy to the Algerian state.

Djezzy is currently 96.81% owned by Egypt’s Orascom Telecom Holding, which in turn is 51.7% owned by VimpelCom.

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