Fair price for stake in Algeria's Djezzy lower than offer -adviser

CAIRO Thu Aug 21, 2014 4:37am EDT

CAIRO Aug 21 (Reuters) - The fair price for a 51-percent stake of Global Telecom Holding's Algerian unit Djezzy is 4 percent lower than the proposed price, the company said on Thursday citing financial advisers HC.

Global's parent firm, Russia's Vimplecom, has agreed to sell the stake in Algeria's biggest telecoms operator to the Algerian government for $2.6 billion. (Reporting by Asma Alsharif; editing by Jason Neely)