Sources: Algeria’s Talks With VimpelCom Over Djezzy Stopped

The long-standing negotiations between Russia’s VimpelCom and the Algerian authorities over the acquisition of Orascom Telecom Algerie (OTA) ‘Djezzy’ have been ceded until further notice, senior sources told Amwal Al Ghad on Wednesday.

The statement came in the wake of the meeting, which included officials from VimpelCom and representatives of the Algerian government, held in Paris earlier this month. During the meeting VimpelCom offered a new joint stock agreement, but it was rejected by the Algerian government and the talks have been stopped since then.

Meanwhile, government sources said Algeria is seeking a new valuation for VimpelCom’s local mobile phone unit Djezzy before acquiring 51 percent of it.

“There will be a new valuation of Djezzy,” the source, who asked not to be named, said on May 11th.