Algeria’s aim is to preserve Djezzy- Moussa Benhamadi

Algerian government does not intend to destroy the mobile operator Djezzy, owned by Egyptian Naguib Sawaris Orascom Telecom, Moussa Benhamadi, Minister of Post and New Communication Technologies said here on Monday in Chaine 3 radio station.

• « We want to preserve the company Djezzy unchanged. Maintaining its network, potential, staff , clients and portfolio as well », he added.

• « We therfore have no intention to destabilize Djezzy, especially since it wroks well. We want to get the company in the best possible conditions ».

• Minister Benhamadi offered no specific date on the possible conclusion of such redemption.

• Crisis between Orascom Telecom and the Algerian government has erupted since nearly a year, November 2009.

• « It is a mtter of time. The political decision has been taken for the acquisition of Djezzy. We try to go fast. The process is nintiated, the file is opened. This is not na easy affair. We must let the file grow naturally », Moussa Benhamadi asserted.

• Moreover, regarding a possible takeover of private ISP Eepad, Benhamadi said that everything was possible. The file of the dispute between Algeria Telecom and Eepad is still at the court.

• « Justice has appointed an expert. We await the findings of the expert to continue to move forward on », he explained.

• Arabianbusiness website  quoted Naguib Sawiris as saying, chairman of Egypt’s Orascom Telecom, said weak rule of law was deterring him from investing in emerging markets like Algeria, where Orascom’s lucrative local unit is under pressure.

• Speaking at the Economist Emerging Markets summit, Sawiris said: “We ended up with a market share of over 70 percent of the telco, there are three players, we are the largest and they started cracking on us for the mere reason we were too profitable and successful.”

• Sawiris is in talks to merge his holding company Weather Investments, which owns just over half of Orascom as well as operators in Italy and Greece, with telecoms group Vimpelcom. But analysts say Algeria might again scupper any deal.

• Sawiris has a history of entering risky markets, including Zimbabwe, Iraq and North Korea.

• Reffering to the Middle East and North Africa, he said: “You must remember you are moving in a non-democratic environment … In no country can you invest without the blessing of the No 1. If you can’t get that, you should not be there.”, the same sources quoted.

• Sawiris said Morocco, Jordan and Egypt still looked attractive, but added that the investment climate in his home market of Egypt has been tempered by uncertainty over who will succeed 82 year old President Hosni Mubarak.

  He added: “Your risk is the succession problem of our president. That’s a risk. You need to take a bet on that,” he said. “It is a big one, not a small one. But you know in a project that takes three to five, you need to make a judgement call.”