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FINANCIAL NEWS
Russia’s Vimpelcom settles Algeria dispute with USD2.6b stake sale
20 Apr 2014
(MENAFN) Russia’s Vimpelcom has recently resolved a dispute with the Algerian government by selling it a majority stake in Algeria’s largest telecom operator, The Peninsula Qatar reported.
Orascom Telecom Algeria (Djezzy) was bought by Vimpelcom 4 years ago from Egyptian tycoon Naguib Sawiris for USD6 billion as the firm was looking to grow outside Russia.
Russia’s third-largest mobile operator said that its subsidiary Global Telecom Holding (GTH) had signed an agreement to sell a 51 percent stake in Djezzy to the Algerian National Investment Fund (FNI) for USD2.6 billion.
Vimpelcom Chief Executive Officer said: “It is possible for us to take advantage of the very attractive telecom market in Algeria and continue to develop Djezzy, which has been difficult for us all these years.”
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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