Orascom sees no prgress in Djezzy dispute

Egypt: Naguib Sawiris, chairman of Orascom Telecom (OT) has said there was no progress in a dispute with the Algerian government over the future of its unit Djezzy since OT’s parent sealed a deal to sell assets to Vimpelcom, Reuters has reported. “We had been expecting that when this deal came through there would be a change. There has been no change,” he said. Algeria’s government, which said it will nationalise Djezzy, has hit the unit with hundreds of millions of dollars in back taxes and barred it from moving profits abroad.

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