GTH taps KAMCO, Fincorp as financial advisors for Veon acquisition offer

Global Telecom Holdings’ board of directors has tapped KAMCO Investment Company and Fincorp Investment Holding as financial advisors for Amsterdam-based Veon Holdings’ acquisition offer, the company said in a statement to the EGX (pdf). Veon had made an offer last week to acquire GTH’s Pakistan subsidiary Jazz and its associated operations, in addition to Bangladesh telco Banglalink, for USD 2.6 bn. The transaction has yet to be approved by GTH’s minority shareholders. Veon, which owns 57.7% of GTH, will abstain from voting. The firm had made a mandatory offer to purchase the remaining 42.3% of GTH for nearly EGP 15.5 bn back in November, but withdrew the offer in April, causing GTH’s shares to tank.