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Wireless

VimpelCom signs deal to sell 51% of Orascom Algeria

Friday 18 April 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 dividends and proceeds due to GTH at closing are expected to amount to USD 4 billion, net of all taxes and after the settlement of all outstanding disputes and the payment of associated fines. The

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