Djezzy to become a public company shortly
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Algiers- The case of purchase of shares in the Algeria Telecom company "Djezzy" will be in the agenda of the Government Council this Saturday, where the Finance Minister, Karim Djoudi will present a detailed report on the friendly market that took place last week between the Department of Fiances and the Office of the finance expert Hadj Ali Mohand Samir
- The case of purchase of shares in the Algeria Telecom company "Djezzy" will be in the agenda of the Government Council this Saturday, where the Finance Minister, Karim Djoudi will present a detailed report on the friendly market that took place last week between the Department of Fiances and the Office of the finance expert Hadj Ali Mohand Samir, who will accompany the Ministry of Finance, representing the Algerian government, in the operation of share purchase in Orascom Telecom Algeria Company, under the right of preemption. This Agreement shall enter into force upon approval by the members of the government.
According to government sources, the Ministry of Finance has concluded an agreement last week by mutual agreement with the expert Office in view of studying the financial situation of Orascom Telecom Algeria and disclose the amount by which it will process the purchase of Djezzy operator or the purchase of at least 49% of shares in Djezzy on the Algerian market. The consulting firm's financial Haj Ali Mohand Samir, in coordination with three international offices in Paris takes over the part relating to negotiations with representatives of Orascom Telecom, in their capacity as owners of a majority of shares in Algeria.
Moreover, the administration of Orascom Telecom has remained silent to the requisition of Djezzy, presented by the government, when Nadjib Sawra, the Executive Director of Orascom Telecom Holding, had begun formal and direct negotiations with South African partner "MTN" for the sale of Djezzy cons $ 5 billion, which prompted Prime Minister Ahmed Ouyahia to intervene personally to prevent the sale. The latter has specified that any sale or purchase without government consultation would void.
The Algerian government's desire to buy Djezzy came after consideration of the appeal on taxes imposed on Djezzy and estimated at 6.596 million dollars. The appeal was rejected last March 30 at the Ministry of Finance, because not based on solid foundations by which the administration could justify its operations of electronic reloading "Flexy".
Ennahar / Habiba Mahmoudi
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