VEON’s GTH delisting approved by shareholders

29 Aug 2019

Amsterdam-based multinational telecoms group VEON has announced that the delisting of its subsidiary Global Telecom Holding (GTE) from the Egyptian Exchange (EGX) has been approved by an Extraordinary General Meeting of Shareholders, and that a Delisting Decree is expected to be published by the EGX ‘in due course’.

Earlier this month VEON completed a mandatory share buyout offer to up its stake in Egypt-based GTH to around 98.24%, and GTH’s board of directors subsequently approved VEON’s offer to acquire the company’s mobile operating assets in Pakistan, Bangladesh and Algeria plus submarine cable operator MedCable. GTH will hold an extraordinary general meeting related to the asset offer on 9 September.