“Orascom divided between Algeria and the United Arab Emirates”

Echorouk has learnt from reliable sources that the Sawiris group has halted its discussions with the South African MTN group after an injunction from the Algerian government.

• Negotiations are underway with the Emirati group Telecom for the allotment of half of the capital assets of Djezzy. The other half will be retrieved by the Algerian state.
•  
• Orascom has at last found a solution to the problem it created by trying to conclude a deal on the sale of Djezzy with foreigners, without securing the prior green light from the Algerian authorities who enjoy a pre-emptive right on the matter.
•  
• Sawiris has thereby opted for an Arab operator, a choice to which Algeria is not opposed. In case of an accord between the two sides, Algeria will be entitled to repurchase half of the assets of Djezzy and the remainder will go to the Emirati operator.
•  
• According to Echorouk’s sources, Sawiris is seeking to garner 5 billion dollars for the sale of Djezzy while specialists in Algeria have estimated the value of the operator at only 2 billion dollars.
•  
• The negotiations between the two sides are still underway.
•