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VimpelCom signs deal to sell 51% of Orascom Algeria

Friday 18 Apr 2014 | 12:01 CET | News
VimpelCom and Global Telecom Holding (GTH) have signed an agreement to sell 51 percent of their subsidiary Orascom Telecom Algeria (OTA) to Algerian National Investment Fund FNI for USD 2.64 billion. OTA, which uses the Djezzy brand, will distribute a USD 1.86 billion dividend to GTH immediately prior to the closing of the transaction, which is expected to occur by the end of the year. The total ...

VimpelCom signs deal to sell 51% of Orascom Algeria

Friday 18 Apr 2014 | 12:01 CET | News VimpelCom and Global Telecom Holding (GTH) have signed an agreement to sell 51 percent of their subsidiary Orascom Telecom Algeria (OTA) to Algerian National Investment Fund FNI for USD 2.64 billion. OTA, which uses the Djezzy brand, will distribute a USD 1.86 billion dividend to GTH immediately prior to the closing of the transaction, which is expected to occur by the end of the year. The total ...

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Romania suspends 49 operators for 2 months

18 Apr 2014 18:13 CET | Romania
Romania's telecommunications authority Ancom suspended the activity of 49 electronic communications providers for 60 days for ...

KT may seek to unite all affiliates - report

18 Apr 2014 18:11 CET | Korea, Republic of
South Korean operator KT may seek to reform and unite the company with its affiliates and subsidiaries, the Korean Times reports. ...

DoT asks MTNL to manage government secure network

18 Apr 2014 17:47 CET | India
India's Department of Telecom (DoT) has asked local state-run firm Mahanagar Telephone Nigam (MTNL) to take over the management ...

Supreme Court rules CAG can audit telecom operators

18 Apr 2014 17:46 CET | India
India's Supreme Court of Justice has ruled that the country's Comptroller and Auditor General (CAG) is empowered to examine the ...

Bic Camera to sell inexpensive smartphones

18 Apr 2014 17:46 CET | Japan
Japanese electronics retailer Bic Camera started selling inexpensive smartphones following similar moves by competitors, Nikkei ...
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