Naeem Research said the agreement signed between Global Telecom Holding (GTHE.CA) and VimpelCom LTD for the sale of 51.0% of GTH’s interest in Orascome Relecom Algerie (Djezzy) to the Algerian National Investment Fund for US$ 2.6bn ,is postive. Naeem revised upwards GTH’s TP to EGP6.1/share (USD4.4/GDR) with chance of a further upgrade ,post confirming transfer of the agreed dividend ,in addition it raised the stock's recommenadation to BUY from HOLD. Naeem pointed out that ,Resolution on Djezzy positive; but sale proceeds used mostly to repay VIP debt slightly disappointing. It noted that the deal value came almost in line with her expectation ,as it will settle all disputes, expected closing end-2014.