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Wireless

Veon settles GTH tax dispute in Egypt, takeover bid approved

Wednesday 26 June 2019 | 14:59 CET | News
Veon said that its Global Telecom Holding (GTH) subsidiary has reached an agreement with the Egyptian Tax Authority (ETA) to settle all outstanding tax liabilities of GTH and its Egyptian subsidiaries, for a total amount of USD 136 million. The Egyptian Financial Regulatory Authority (FRA) also approved Veon's cash tender offer to purchase the shares of GTH not currently held by Veon. The deal represents up to 1.99 billion shares or 42.31 percent of GTH's issued, for EGP 5.08 per share. 

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Categories: Mobile & Wireless
Companies: Veon
Countries: Egypt
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