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Russian carrier VimpelCom (VIP +2.6%) trades higher after announcing a memorandum of...

Russian carrier VimpelCom (VIP +2.6%) trades higher after announcing a memorandum of understanding with the Algerian government regarding the sale by its Orascom subsidiary of a majority stake in local carrier Djezzy. Orascom, which is 51.7%-owned by VimpelCom of, has been under pressure to sell Djezzy after the Algerian government said it wants the carrier nationalized. A price still has to be determined.
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