4 January 2007 - Gide Loyrette Nouel Algiers advises Orascom Telecom Holding (Egypt) in connection with the acquisition of a minority stake in its Algerian subsidiary for a consideration of US$ 399 million:

The Gide Loyrette Nouel Algiers office advised Orascom Telecom Holding SAE ("OTH") in connection with the acquisition of 7.91% of the shares in its Algerian subsidiary, Orascom Telecom Algeria ("OTA"), owned by Emirates International Investment Company ("EIIC"). The value of the transaction is estimated at some US$ 399 million. 
 
As a result of this deal, the Egyptian group has increased its stake in its most profitable subsidiary and now directly or indirectly owns 95.6% of the capital in OTA, the leading mobile telecommunications operator in Algeria with some 10 million subscribers.  

OTH, which is listed on the London and Cairo Stock Exchanges, is one of the leading telecommunications companies in the Middle East, Africa and Asia, and has more than 40 million subscribers.      

The Gide Loyrette Nouel team assisting OTH with this transaction included Samy Laghouati, head of the Algiers Office, and Mounir Aït Belkacem. 
 
EIIC was advised by the Dubai office of Allen & Overy.