عربــى

Market is closed

EGX 30 13,670.27 0.21%



VEON Holding adjusts Global Telecom purchasing price to EGP 5.08/share

VEON Holding adjusts Global Telecom purchasing price to EGP 5.08/share

ArabFinance: Financial Regulatory Authority (FRA) approved a public mandatory cash tender offer (MTO) submitted by VEON Holdings to purchase 1.99 billion shares, approximately 42.31%, of Global Telecom Holding (GTHE), as per a bourse filing on Wednesday.

VEON Holding has adjusted the price per share to EGP 5.08 instead of EGP 5.30.

Moreover, Global Telecom has signed a Tax Settlement Agreement with the Egyptian Tax Authority, in respect of tax liabilities of GTH and its Egyptian subsidiaries for the tax years 2000 through 2018.

The EGX-listed company invited the shareholders to attend the extra-ordinary general meeting (EGM) on August 27, 2019, to discuss the optional delisting of the firm.

The EGM will also review the firm’s purchase of the shares of all shareholders willing to sell their shares to the company, whether they have voted for or against the delisting resolution in the EGM.

All rights reserved to Arab Finance 2015 ©

Back to top