Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

VimpelCom Rises as Algeria Denies Djezzy Bid Purchase Price

VimpelCom Ltd., Russia’s third-biggest mobile carrier by subscribers, rose as Algeria’s Finance Minister denied the government has agreed to pay $6.5 billion for a controlling stake in the company’s Djezzy unit.

American depositary receipts of VimpelCom added 0.5 percent to $11.26 in New York, after dropping as much as 2.1 percent earlier. Volume totaled 2.7 million, or 135 percent of the average three-month trading activity for the shares, according to data compiled by Bloomberg. The stock has gained 19 percent this quarter.

Algeria is in talks to buy a stake in Djezzy from VimpelCom, which merged with Orascom last year. It is still discussing a purchase price for the 51 percent stake, Finance Minister Karim Djoudi said in an interview today. Orascom said yesterday an Algerian court fined Djezzy about $1.3 billion for violating foreign-exchange regulations, a ruling the company is planning to appeal. Djoudi said today that the fine would be factored in during the negotiations.

Reuters reported yesterday Algeria had agreed to pay $6.5 billion for a controlling stake.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.