Russia's Vimpelcom solves Algeria dispute with $2.6 bln deal
Moscow - Russian telecoms operator Vimpelcom said on Friday it had resolved an ongoing shareholder battle in Algeria with the sale of a 51 percent stake in Orascom Telecom Algeria to the Algerian National Investment Fund for $2.6 billion.
Source : https://www.emouaten.com/english/Russia-s-Vimpelco...
The sale by its 51.9 percent-owned unit Global Telecom Holding will reap $4 billion including dividends to the GTH holding company. However, both Vimpelcom and GTH will take a one-off charge of $2 billion related to the settlement of a dispute with Algeria.
GTH will continue to have operational control over Orascom Telecom Algeria, also known as Djezzy. Vimpelcom took over Djezzy as part of a $6 billion deal agreed in 2010 to buy assets from Egyptian tycoon Naguib Sawiris to help Vimpelcom diversify outside Russia.
http://finance.yahoo.com/news/russias-vimpelcom-solves-algeria-dispute-092057599.html;_ylt=AwrBEiFL8FBThloAB57QtDMD
GTH will continue to have operational control over Orascom Telecom Algeria, also known as Djezzy. Vimpelcom took over Djezzy as part of a $6 billion deal agreed in 2010 to buy assets from Egyptian tycoon Naguib Sawiris to help Vimpelcom diversify outside Russia.
http://finance.yahoo.com/news/russias-vimpelcom-solves-algeria-dispute-092057599.html;_ylt=AwrBEiFL8FBThloAB57QtDMD
Source : https://www.emouaten.com/english/Russia-s-Vimpelco...