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Algeria approves Orascom's Djezzy buyout talks

02 June 2010

Egypt's Orascom Telecom has said that the Algerian government had agreed to start talks over the sale of Orascom's Algerian unit Djezzy, Reuters has reported. "At this point, we are waiting for them to call us for the talks. They are going to appoint their representatives who will negotiate with our company representatives," Orascom said. The Algerian government put the deal in doubt in April when it said it would block any agreement to sell Djezzy to MTN, claiming it had a right to bid on the unit first.

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