Business | Telecoms
Orascom keen to continue operations in Algeria
Clarification follows tax claim against local unit
- Zawaa Dow Jones
- Published: 00:00 March 14, 2010
Dubai: Algeria's Prime Minister Ahmad Ouyahia said Cairo-based Orascom Telecom, which owns a majority stake in Algeria's Djezzy, has said it wants to continue operating in the North African country, Egypt's state television reported Saturday.
Orascom's chairman Najeeb Sawiris "has told members of the government that Orascom will continue its activity and it does not have the intention of leaving the country", Ouyahia said, according to the channel.
Last week, the Algerian government said it has the right of first refusal for Orascom's stake in Orascom Telecom Algeria, or OTA, should it decide to sell.
Recent local media reports have suggested that Orascom Telecom is considering the sale of its Djezzy unit but Sawiris last week denied any stake sale talks.
The largest Arab mobile operator by subscribers was hit with a $600-million (Dh2.2-billion) tax claim and penalties for the fiscal years 2004 to 2007 in Algeria.
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