Skadden settled an investment treaty dispute on behalf of Global Telecom Holding SAE (formerly Orascom Telecom Holding SAE) against the government of Algeria in connection with the alleged unfair treatment and expropriation of Global Telecom's Algerian subsidiary, Djezzy. UNCITRAL proceedings in The Hague were stayed on April 18 following Global Telecom's agreement to sell a 51 percent stake in Djezzy to an Algerian state entity, Fonds National d’Investissement, in a transaction valued at $4 billion.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates