Market will decide Orascom Tel unit price: Algeria

Reuters, Wednesday 22 Dec 2010

Algeria will pay a market price to nationalise Orascom Telecom's local unit, Algerian Telecommunications Minister Moussa Benhamadi said on Wednesday.

"The price will be determined by the market," he told reporters in the upper house of parliament when asked to give an approximate price for the Djezzy unit.

Benhamadi also said he did not know when talks on the nationalisation would begin with Orascom Telecom, and that Algeria will announce by the end of this month what firm it will retain to give a valuation of Djezzy.

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