Vimpelcom and Algeria’s Ministry of Finance have signed a non-binding Memorandum of Understanding (MoU) to explore the sale of a majority stake in Orascom Telecom Algerie (OTA) by the Russian company to the state. The cellco – currently 96.81% owned by Orascom Telecom Holding (OTH) which in turn is 51.7% owned by Vimpelcom – has been the subject of an ownership dispute ever since the Algerian government expressed a desire to nationalise the company, despite Vimpelcom’s acquisition of OTH’s assets in early 2011
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OVETEL Vimpelcom signs MoU over sale of OTA
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