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Algeria to choose advisor on Djezzy within days
10 bidders to advise the Ministry of Finance on Orascom Telecom Algeria purchase
Ahram Online Published in Ahram Online on 25 - 11 - 2010

A total of 10 international banks and offices submitted tender bids Wednesday for a contract to advise Algeria's Ministry of Finance on the acquisition of Orascom Telecom Algeria, or Djezzy, theAlgerian newspaper Al-Khabar reported Thursday, without disclosing where it obtained the information.
The bids will be studied and a decision provided "in the coming days," the paper added.
The valuation process will take between six weeks to six months, Al-Khabar says.
Orascom Telecom's investment in Algeria, Djezzy, which accounts for almost 50% of the group's revenue, is currently the subject of the row with Algiers over hundreds of millions of dollars in back-tax claims.
Orascom Telecom is owned by Egyptian Telecom mogul and billionaire Naguib Sawiris.

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