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FINANCIAL NEWS
Etisalat denies reports on Djezzy bid
31 May 2010
(MENAFN) A spokesman for the Emirates Telecommunications Corporation (Etisalat) affirmed that the company has not bid for the Djezzy, the Algerian unit of Orascom Telecom, Reuters reported.
Earlier this month, the Egyptian mobile firm said it would enter negotiations to sell its Djezzy unit to the Algerian government, which blocked a preferred deal with South Africa?s MTN.
Etisalat?s chairman, Mohammad Omran, said in February that the firm was interested in the Algerian market when the time was right and there had been speculation the Abu Dhabi-listed firm could make an offer for Djezzy.
The Algerian government had said it would block any sale of Orascom?s Algerian unit Djezzy to MTN, a key component of a broader deal that would have made MTN the world?s third-biggest mobile operator if all Orascom?s assets were included.
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