5 Aug 2022 11:10

Veon closes sale of stake in Algeria's Djezzy

MOSCOW. Aug 5 (Interfax) - Telecom group Veon has closed a deal to sell its stake in Algerian mobile provider Djezzy for about $682 million, the company said in a press release.

Veon announced in 2021 that it would exercise a put option to sell its 45.57% stake in Algerian subsidiary Omnium Telecom Algerie SpA, which owns Djezzy.

The stake was sold to the Algerian National Investment Fund, which holds a controlling stake in the provider.