By Asma Alsharif CAIRO (Reuters) - Algeria's proposed bid for a majority stake in telecoms group Djezzy is pitched at 4 percent more than its "fair value", the company's parent said on Thursday, adding impetus towards the completion of the deal after a lengthy ownership tussle. Citing a study it commissioned from financial advisers HC, Djezzy's parent Global Telecom Holding's (GTH) said the stake was worth $2.539 billion, compared with the $2.6 billion price which the Algerian government has agreed to pay. GTH's parent, Amsterdam-based Vimpelcom, had agreed the sale to the Algerian government in April, but it remains to be voted on by shareholders including minority owners. It was not clear if a date had been set for any shareholder meeting or if the deal would still go through even if a significant number objected. No-one at GTH could immediately be reached for further comment. Vimpelcom and its biggest shareholder Altimo, part of billionaire Mikhail Fridman's Alfa-Group, declined immediate comment. "The offered buy price is higher by 4 percent than the fair price," HC was quoted as saying in the statement, which included a detailed explanation of the methodology behind the valuation. Via GTH, Vimpelcom had bought Djezzy, or Orascom Telecom Algeria, in 2010 from Egyptian tycoon Naguib Sawiris as part of a more than $6 billion deal as it aimed to diversify outside Russia. During that same year, Algeria made moves to nationalise Djezzy, hitting the business with back tax claims and restrictions on imports and foreign exchange transactions. With the sale agreement, Vimpelcom would therefore resolve a long-standing ownership dispute with the Algerian government, while keeping its control and slashing debt. The dispute had weighed on Vimpelcom shares, which closed in New York at around $8.6 on Wednesday, well below a peak of around $19 set in 2010. The statement said the deal should also be positive for Djezzy. "The continuation of the firm (Djezzy) ... depends largely on the completion of the deal, while the alternative is to continue the dispute with the Algerian government that could harm the value of the company," the advisers said. The deal will help Vimpelcom reduce its $27.5 billion of gross debt, built up in an acquisition spree, by $4 billion. GTH will keep a 45.6 percent stake and will buy the remaining 3.4 percent of Djezzy shares from minority shareholder Cevital for $178 million, Vimpelcom said in April.