CAIRO, Dec 24 - Egypt's Orascom Telecom (ORTE.CA) has obtained a waiver expiring Jan. 26 from its lenders under a $2.5 billion credit agreement, ahead of a planned $800 million rights issue, the company said on Thursday.

The waiver is related to back taxes Algeria says the company owes, the firm said in a statement.

In November Orascom said Algeria's tax authority had notified the company that it owed $596.6 million in outstanding taxes for 2005 to 2007. (Reporting by Alexander Dziadosz; editing by Karen Foster)