Halilhodzic took over in 2008 and steered them to World Cup qualification but the 57-year-old has paid the price for their quarter-final elimination by Algeria.
Speculation is rife Hiddink will steer the Ivory Coast in South Africa. The Dutchman is under contract with Russia until the summer, when he will take over as Turkey coach. However, Hiddink recently revealed Didier Drogba, who he managed at Chelsea last season, has pleaded with him to take charge.
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