Egyptian group Orascom Telecom call on a peaceful settlement in the conflict with the Algerian authorities
The Executive Director of the Egyptian group Orascom Telecom Holding (OTH) khaled Bechara has declared that his company is looking forward to reaching peaceful agreement in the conflict that opposes its mobile branch “Djezzy†to the Algerian authorities.
- He has indicated that Orascom’s call to an international referral would be the last alternative in case of not reaching an agreement with the Algerian government in a bid to guarantee the shareholders’ rights.
- In a declaration made to an Egyptian newspaper, Bechara has asserted that the success of the merger with Vimpelcom will not be affected by Djezzy’s case in the sense that the operation will not exceed 7% of the gross total of the deal.
- He has noted that OTH administrative staff is following up the strategy outlined to complete the transaction by next February despite some restrictions expressed by the majority shareholder at Vimplecom, Telenor.