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Wireless

Global Telecom shareholders approve Djezzy sale

Wednesday 27 August 2014 | 10:22 CET | News
Shareholders of Global Telecom (GTH) approved the sale of 51 percent of Djezzy to the Algerian National Investment Fund for USD 2.64 billion. The shareholders also approved the distribution of USD 1.86 billion in dividends to the company and the subsidiary companies Moga Holdings and Oratel International. The total dividends and sale proceeds to the company and subsidiary companies are expected to be USD 4 billion post taxes and settlement of all disputes between parties. The sale proceeds and dividends will be used for payment of a loan from parent company VimpelCom.

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Categories: Mobile & Wireless
Companies: Djezzy / Vimpelcom
Countries: Algeria
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