Friday 15 April 2011

OT's Sawaris casts doubt on Djezzy talks | Reuters

Egypt's Orascom Telecom (OT) chairman on Thursday expressed doubt that Russia's Vimpelcom would succeed in talks over a dispute with the Algerian government over OT's Djezzy unit.

The long-running dispute over Djezzy, OT's biggest single source of revenue, has complicated a $6 billion-plus deal for Vimpelcom to take control of OT and its parent, Wind Telecom.

Vimpelcom's shareholders last month approved the takeover, which is expected to close by May.

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