Completion of the sale of the main telecom operator in Algeria

Veon announced today in a statement that it has completed the sale of its stake in Djezzy, the main operator of the Algerian mobile phone market, for $682 million.

VEON Ltd, a global digital provider of converged telecommunications and services, says it has received approximately $682 million after it completed the sale of its stake in Algerian-based Djezzy. This transaction is in line with VEON’s previously announced strategy to improve its portfolio,” the statement said.

Earlier media indicated that Fillon decided to sell his stake in Djezzy to the Algerian state, which owns 51 percent of the shares.

The Veon Group owns stakes in telecommunications companies in the CIS, Asia and Africa, including Russia, where it owns a stake in Vimpel Communications.

Source: RT+Prime

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