Algerian Negotiations on Djezzy Continue, Finance Minister Says

The Algerian government is still in talks to buy the 51 percent stake of mobile phone operator Djezzy held by Russian telecommunications company VimpelCom Ltd. (VIP), Finance Minister Karim Djoudi said.

“We will inform the public of the nature of the agreement between the parties at the conclusion of the discussions,” Djoudi told reporters today in Algiers.

Algeria is looking to purchase the stake in Djezzy held by Russia’s VimpelCom Ltd., the world’s sixth-largest wireless operator by subscribers, which merged with Orascom Telecom last year. The parties have yet to agree on a price.

To contact the reporter on this story: Saleh Slimani via Cairo at sslimani2@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden in Dubai at barden@bloomberg.net

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