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No progress on Orascom Algeria unit sale: Djoudi - Daily News Egypt

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No progress on Orascom Algeria unit sale: Djoudi

Egyptian operator Orascom Telecom has shown no willingness to discuss a sale of its Algerian business to the Algerian government, finance minister Karim Djoudi said on Tuesday. Algeria last month blocked Orascom Telecom from selling its profitable Algerian unit to South African group MTN and said it wanted to buy the business itself, but there …


Egyptian operator Orascom Telecom has shown no willingness to discuss a sale of its Algerian business to the Algerian government, finance minister Karim Djoudi said on Tuesday.

Algeria last month blocked Orascom Telecom from selling its profitable Algerian unit to South African group MTN and said it wanted to buy the business itself, but there has been little sign of progress towards a sale.

"We are exercising our pre-emption right 100 percent," Djoudi told reporters. "This right … requires the parent company to clearly demonstrate its willingness to enter into discussions with the Algerian government in order to sell OTA (Orascom Telecom Algerie)."

"There is no demonstration of this willingness," he said.

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https://www.dailynewsegypt.com/2010/05/25/no-progress-on-orascom-algeria-unit-sale-djoudi/
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