Jan. 9 (Bloomberg) -- VimpelCom Ltd., Russia’s second- biggest mobile-phone operator, rose to a one-month high after it said it is selling a stake in an Algerian joint venture.
Algeria’s Ministry of Finance agreed to buy a 51 percent stake in mobile telephone operator Orascom Telecom Algeria, Zoheir Meziane, an adviser to the Post and Telecommunication Minister, said yesterday.
VimpelCom gained 2.5 percent to $10.17 at 2:38 p.m. in New York trading, its highest intraday price since Dec. 12.
Terms of the transaction weren’t disclosed.
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