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Orascom Telecom gets $7.8bn offer for Algeria unit

03 June 2010

Naguib Sawiris, chairman of Egyptian mobile firm Orascom Telecom, has said the company has received a $7.8bn offer from South Africa's MTN for its Algerian unit Djezzy, Reuters has reported. Asked about the status of the talks with MTN, Sawiris said, "It's not yet settled, we've been in discussions." Sawiris said on Monday the firm would have preferred to stay in Algeria, where its unit leads the mobile market by subscribers, but had been obliged to negotiate its sale.

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