Egypt's PM: International backlash grows over Israel's attacks in Gaza    Egypt's PM reviews safeguard duties on steel imports    Egypt backs Sudan sovereignty, urges end to El-Fasher siege at New York talks    Egyptian pound weakens against dollar in early trading    Egypt's PM heads to UNGA to press for Palestinian statehood    As US warships patrol near Venezuela, it exposes Latin American divisions    More than 70 killed in RSF drone attack on mosque in Sudan's besieged El Fasher    Egypt, EBRD discuss strategies to boost investment, foreign trade    DP World, Elsewedy to develop EGP 1.42bn cold storage facility in 6th of October City    Al-Wazir launches EGP 3bn electric bus production line in Sharqeya for export to Europe    Global pressure mounts on Israel as Gaza death toll surges, war deepens    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt expands medical, humanitarian support for Gaza patients    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt's Cabinet approves Benha-Wuhan graduate school to boost research, innovation    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Sawiris' Orascom Telecom Denies Launching Firm To Run Djezzy Under Algerian Control
Nayera Eid Published in Amwal Al Ghad on 26 - 12 - 2012

Orascom Telecom Holding – recently branded as ‘Global Telecom Company' (ORTE.CA) - has refuted news about the inception of a new firm so as to run its unit Orascom Telecom Algerie (OTA) ‘Djezzy' under the control of the Algerian government.
The Vice Chief Finance Offer Khalid Al Leithy said Orascom is still taking the necessary steps to go to international arbitration on Djezzy noting that the parent company VimpelCom had not reached any agreements with the Algerian government so as to put an end to the more than two-year disputes over the unit.
Al Leithy further told ‘Amwal Al Ghad' that the Russian telecommunications company VimpelCom Ltd. (VIP) is negotiating with the Algerian government so as to reach a compromise. “VimpelCom will not entirely give up its unit Djezzy or its administration right."
Algeria's government is in talks to buy the 51 percent stake in Djezzy held by VimpelCom, which became the world's sixth-largest wireless operator by subscribers after merging with Naguib Sawiris's Orascom Telecom Holding (ORTE.CA) in 2011. VimpelCom has been in dispute with the Algerian government over the unit for more than two years.
It is worth noting that some Algerian newspapers have circulated news about an agreement between the Algerian government and VimpelCom on founding a new firm to run Djezzy, Orascom Telecom's unit in Algeria.

Clic here to read the story from its source.