GTH postpones to 27 March GA meeting to vote on EGP 11.2 bn capital increase

EGX-listed Global Telecom Holding (GTH) has postponed to 27 March its general assembly meeting to vote for a capital increase of EGP 11.2 bn through a rights issue on the bourse, IR department head Noha Agaiby said, according to Al Mal. The company’s majority shareholder, Veon Holdings, is still pushing ahead with a bid to purchase the 42.3% of GTH that it doesn’t already own. Veon was set to acquire the stake last year, but withdrew the offer after failing to receive approval for the transaction from the Financial Regulatory Authority.