Technology & Media Editor

Weather Investments II, a vehicle owned by Egyptian telecoms billionaire Naguib Sawiris, has filed a $5bn claim against the Algerian government, alleging that it interfered with the firm’s stake in a telecom operator known as Djezzy.

The complaint, registered in the International Centre for the Settlement of Investment Disputes - the international arbitration arm of the World Bank - accuses the Algerian government of breaching an investment protection treaty between the Belgo-Luxembourg Economic Union and the People's Democratic Republic of Algeria.

A vehicle owned by Egyptian telecoms billionaire Naguib Sawiris has filed a $5bn claim against the Algerian government, alleging that it interfered with the firm’s stake in a telecom operator

Sarah Krouse

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Sawiris's Weather files $5bn claim

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