The Algerian government will be hiring international consultancy firms to put a valuation on Orascom Telecom's local subsidiary, Djezzy and expect the process to be completed by the end of this year.
Orascom Telecom has previously indicated that it puts a valuation of $7.8 billion on the company, although analysts doubt the government would offer more than US$5 billion.
"We have a ministerial committee. We have also an Algerian consultancy firm working with foreign consultancy firms to determine the financial value of Djezzy," Telecommunications Minister Moussa Benhammadi told the Reuters news agency.
Finance Minister Karim Djoudi, also present at Thursday's session of parliament , said on the latest developments over Djezzy: "We are still ready to buy it. We have started the evaluation to prepare for the acquisition talks."
The future of the Algerian network has been under discussion for several months, with the Algerian government unwilling to let Orascom sell the company, while also suggesting that it wants to buy the firm itself.
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