Orascom Telecom Says Not Party In Ongoing Talks Over Djezzy, Stock Resumes Trading

By Yomna Yasser On Mar 12, 2013

In reply to the inquiries of the Egyptian Exchange (EGX), Orascom Telecom Holding (OTH) (ORTE) sent a release confirming that it is not involved in the ongoing talks between Russia’s VimpelCom Ltd. (VIP) and the Algerian government as regards a takeover bid or a possible agreement.

Orascom further said it will inform the EGX of any relevant substantial events duly.

OTH has noted that VimpelCom denied having any material events to disclose.

Accordingly, the EGX management decided to resume trading on OTH stock as of 1:40 p.m. (11:40 GMT) today.