Veon announced that it intends to deposit a public mandatory cash tender offer with the Egyptian Financial Regulatory Authority for the purchase of up to 1.99 billion shares of Global Telecom Holdings (GTH), representing 42.31 percent of GTH's issued shares, at a price of EGP 5.30 per share.
As previously announced, Veon intends to take GTH private following the mandatory cash tender offer. Under the financial market regulations, the company will deposit the bid with the FRA within 60 calendar days of this announcement. As the company has not yet submitted the bid to the regulator, Veon said it is unable to comment further on this matter.
