Orascom Telecom Holding – OTH (ORTE.CA) – has refuted news about plans to form a new firm to run its unit Orascom Telecom Algerie (OTA) ‘Djezzy’, noting that Optimum Telecom Algerie, is a 100%-owned subsidiary of Orascom Algerie, which was founded in the last quarter of 2012 to be prepared for all scenarios for possible solutions with the Algerian government.
Orascom Telecom Holding further asserted that the statements attributed to Vincenzo Nesci, chairman of Djezzy, in regards to the stake percentages in Optimum Telecom Algerie are in correct.
Elsewhere, OTH said VimpelCom is still seeking to reach a compromise with the Algerian government over the Djezzy disputes.
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.
