West Texas Intermediate crude slid near a four-week low, headed for a second month of declines, as investors bet signs of continued U.S. economic growth will strengthen the case for reduced stimulus.
The following is a selection of the most important news affecting the oil market.
Algeria is still discussing the purchase price for 51 percent of mobile-phone company Djezzy, Finance Minister Karim Djoudi said in an interview today.
Algeria’s economy may grow 4.7 percent in 2012 after 3.9 percent growth this year, state-run Algerie Presse Service reported, citing Finance Minister Karim Djoudi.
Algeria’s government will buy Orascom Telecom Holding SAE’s unit in the North African country if it’s offered for sale, Finance Minister Karim Djoudi said.
The Algerian government is still in talks to buy the 51 percent stake of mobile phone operator Djezzy held by Russian telecommunications company VimpelCom Ltd., Finance Minister Karim Djoudi said.
Algeria is still discussing the price of the purchase of 51 percent of the stake in mobile phone company Djezzy, Finance Minister Karim Djoudi said in an interview today.
MTN Group Ltd., Africa’s largest mobile-phone company, said it’s in negotiations to buy all or part of Cairo-based competitor Orascom Telecom Holdings SAE.
MTN Group Ltd ., Africa’s biggest mobile-phone operator, won’t buy Orascom Telecom Holding SAE’s Algerian unit, Algerian Finance Minister Karim Djoudi said.
Algeria’s negotiations to buy the local unit of VimpelCom Ltd. may take many months to conclude because of a price disagreement, Al Bayan reported, citing Algeria’s Finance Minister Karim Djoudi.
"We will inform the public of the nature of the agreement between the parties at the conclusion of the discussions."
- Karim Djoudi on Sep 03, 2012