VEON submits offer to raise stake in GTH sub-division

9 Nov 2017

Amsterdam-based, Russian-backed multinational telecoms group VEON disclosed yesterday that it has submitted a mandatory tender offer for 42.31% of shares in its subsidiary division Global Telecom Holding (GTH). VEON (formerly VimpelCom) already controls a majority stake in Egypt-based holding company GTH, which has three mobile operator subsidiaries: Jazz (Mobilink) in Pakistan, Banglalink (Bangladesh) and Algeria’s Djezzy (where GTH has a minority stake but holds management control).

VEON Holdings BV, a wholly-owned subsidiary of VEON Ltd, submitted its offer with the Egyptian Financial Supervisory Authority (EFSA) on 8 November 2017 for the purchase of up to 1,997,639,608 GTH shares on the Egyptian Stock Exchange (EGX). The total value of the offer – which is currently being reviewed by the EFSA – is EGP15.8 billion (USD893 million) based on a price of EGP7.90 per share.

Egypt, Netherlands,Global Telecom Holding (GTH, formerly OTH), VEON (formerly VimpelCom),



Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.