VimpelCom has begun talks to sell a majority stake in its subsidiary, Orascom Telecom Algerie (OTA), to the Algerian Government.

Any potential sale is dependent on the two parties agreeing on a suitable price for the share of the company and a series of other conditions.

The mobile service provider has remained flexible over scenarios for the acquisition to help ensure an agreement is reached between the two parties. However, a deal will only be reached subject to definitive documentation and if a price is agreed by both parties.

After agreeing to discuss a deal, the Algerian Ministry of Finance and VimpelCom will now sit down to determine the value of OTA. Any transaction can only go ahead subject to corporate approval from Orascom Telecom Holding (OTH), the majority stakeholder in OTA which VimpelCom purchased last year.

OTH officials have not yet been involved in discussions over the potential acquisition. VimpelCom owns 51.7 percent of OTH, which owns 96.81 percent of OTA.

More News

European telcos launch Make the Net Work initiative European telcos launch Make the Net Work initiative Europe’s leading telcos have unveiled a new initiative called Make the Net Work as they to look to drive the debate around reform of the telecoms market. More detail
Uganda latest destination for Ericsson, MTN Group m-commerce partnership Uganda latest destination for Ericsson, MTN Group m-commerce partnership Ericsson has announced that MTN Group’s Ugandan business is the latest to deploy its Converged Wallet platform.  More detail
Telefónica partners with Equinix to offer enterprise hybrid computing, cloud solutions Telefónica partners with Equinix to offer enterprise hybrid computing, cloud solutions Telefónica has announced a partnership with cloud interconnection provider Equinix to offer hybrid computing and cloud solutions to enterprises. More detail
Vodafone aims for connected car dominance with Cobra acquisition Vodafone aims for connected car dominance with Cobra acquisition Vodafone has said it is now holds a unique position in the connected car space following its acquisition of Cobra. More detail
Telefónica unveils new telematics partner in Europe, boosts M2M portfolio Telefónica unveils new telematics partner in Europe, boosts M2M portfolio Telefónica has announced a partnership in Europe with fleet transport telematics company Geotab that sees the two companies launch a “plug and play” solution. More detail
    

This website uses cookies to improve your experience. Using our website, you agree to our use of cookies

Learn more

I understand

About cookies

This website uses cookies. By using this website and agreeing to this policy, you consent to SJP Business Media's use of cookies in accordance with the terms of this policy.

Cookies are files sent by web servers to web browsers, and stored by the web browsers.

The information is then sent back to the server each time the browser requests a page from the server. This enables a web server to identify and track web browsers.

There are two main kinds of cookies: session cookies and persistent cookies. Session cookies are deleted from your computer when you close your browser, whereas persistent cookies remain stored on your computer until deleted, or until they reach their expiry date.

Refusing cookies

Most browsers allow you to refuse to accept cookies.

In Internet Explorer, you can refuse all cookies by clicking “Tools”, “Internet Options”, “Privacy”, and selecting “Block all cookies” using the sliding selector.

In Firefox, you can adjust your cookies settings by clicking “Tools”, “Options” and “Privacy”.

Blocking cookies will have a negative impact upon the usability of some websites.

Credit

This document was created using a Contractology template available at http://www.freenetlaw.com.