Cairo – Mubasher: The Egyptian Exchange announced the closure of the mandatory tender offer for shares of Global Telecom Holding (GTH) submitted by VEON Holdings B.V. at a combined value of EGP 9.72 billion.
The total number of shares tendered reached 1.9 billion, the EGX said in a statement on Thursday.
The EGX decided to delist GTH’s shares as of 14 August.
Egypt’s Financial Regulatory Authority (FRA) approved the mandatory tender offer submitted by VEON Holdings B.V. for the purchase of up to 1.997 billion shares in emerging markets telecom operator GTH, representing about 42.31% of GTH’s shares, at an adjusted price of EGP 5.08 apiece instead of EGP 5.3.
