Algeria unit sale talk boosts Orascom
Shares in Orascom
Telecom jumped 4 percent on Thursday after Vimpelcom was reported to
have said around $8 billion was a fair price for Orascom Telecom’s
Algerian unit.
“If the Algerian
side voices the readiness to buy Djezzy at a fair price, we’ll be ready
to sell it then,” Vimpelcom CEO, Alexander Izosimov, was reported to
have said by Russia’s ITAR TASS.
A person familiar
with the matter said the comment should be interpreted as Vimpelcom
setting out its initial position for further talks on the matter with
the Algerian government.
“This is a starting point, the two sides only met for the first time this week,” the person said.
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