Telecom Egypt to liquidate investment in Algeria

Telecom Egypt and partner Orascom telecom said they will liquidate their land line telephone investment in Algeria, said regulatory news service Thursday.

• Telecom Egypt and Orascom face competition difficulties since they won the license in 2005. Algerie telecom, the state run company, is monopolizing the land line telephone market in the country.
• Orascom telecom however is leading the mobile telephone market in Algeria. The Egyptian group owner Nadjib Sawiris had ruled out selling  his Algerian subsidiary or move from the country.