Bloomberg Anywhere Login


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

Orascom Telecom Plans to File Appeal in Algeria Case

May 28 (Bloomberg) -- Orascom Telecom Holding SAE said its Algerian unit is taking steps to file an appeal with Algeria’s Supreme Court after a lower court upheld a $1.3 billion fine for violating foreign exchange regulations.

“Orascom Telecom Algerie maintains that Orascom Telecom Algerie and its senior executive have acted in compliance with the law and Orascom Telecom Algerie is taking the necessary steps to file an appeal with the Algerian Supreme Court,” the company said in a statement distributed via the Regulatory News Service. “The lodging of the appeal will provisionally suspend the judgment.”

Algerian Court of Appeal confirmed the judgment handed down by the Algerian Court of First Instance on March 28 against the unit that operates under Djezzy brandname. The Algiers court suspended a two-year sentence against the Chief Executive Officer of Djezzy, Tamer El Mahdi, and asked the company to pay a fine of 6 billion dinars ($79 million) on his behalf.

Link to Statement: {NSN M4Q4I23HBS3K <GO>} Link to Company News:{ORTE EY <Equity> CN <GO>}

To contact the reporter on this story: Shaji Mathew in Dubai at

To contact the editor responsible for this story: Inal Ersan at

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.