Fonds National d’Investissement to acquire a 45.57% stake in Djezzy from VEON.

Fonds National d’Investissement, an investment company in Mohamed Belouizdad, Algeria, agreed to acquire a 45.57% stake in Djezzy, a mobile network operator, from VEON, a Dutch-domiciled multinational telecommunication services company. Financial terms were not disclosed. "The exercise of the option initiates a process under which a third-party valuation is undertaken to determine the fair market value at which the transfer shall take place. This important step will further streamline VEON’s operations, allowing for an improved focus on our core markets," VEON.