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News


(2014-08-27) Global Telecom EGM approves Djezzy's 51% stakes sale
The Extraordinary General Meeting (EGM) of Global Telecom Holding (GTHE) approved, in its meeting, the sale of 51% of Djezzy to the Algerian National Investment Fund for $2.64 billion, in addition to the deals associated with it. The stakeholders approved the distribution of $1.862 billion in dividends to the company and the subsidiary companies; Moga Holdings Ltd and Oratel International Inc. The total dividends and sale proceeds to the company and subsidiary companies are expected to be $4 billion post taxes and settlement of all disputes between parties. The sale proceeds and dividends will be used in the debt payment of the VimpelCom loan.