{"id":595862,"date":"2019-08-08T04:00:04","date_gmt":"2019-08-08T04:00:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/"},"modified":"2019-08-08T04:00:04","modified_gmt":"2019-08-08T04:00:04","slug":"veon-mto-for-global-telecom-closes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/","title":{"rendered":"Veon MTO for Global Telecom closes"},"content":{"rendered":"

<\/a> M&A WATCH- Veon MTO for Global Telecom closes:<\/b> Global Telecom Holding\u2019s (GTH) sale of 1.99 bn shares in a mandatory offer (MTO) launched by majority shareholder Veon to acquire 42.3% of the company is now complete and the MTO has closed, according to an emailed statement (pdf)<\/a> from Shalakany Law firm, Veon\u2019s lead counsel. Veon will hold around 98% of the company\u2019s total outstanding equity,\u201d the statement said. The total purchase price for the shares is EGP 9.7 bn (USD 600 mn).<\/p>\n

Background:<\/b> Veon\u2019s plans to launch the MTO were previously hampered by the long-running tax dispute between GTH and the government, which was resolved last month<\/a> after GTH signed a USD 136 mn settlement agreement with the Egyptian Tax Authority. The Financial Regulatory Authority subsequently approved the MTO at EGP 5.08 per share, down from a previous EGP 5.30 per share.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Veon MTO for Global Telecom closes: Global Telecom Holding\u2019s (GTH) sale of 1.99 bn shares in a mandatory offer (MTO) launched by majority shareholder Veon to acquire 42.3% of the company is now complete and the MTO has closed, according to an emailed statement (pdf) from Shalakany Law firm, Veon\u2019s lead counsel. Veon […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,9102,7128,2380,9352],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595862","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-global-telecom-holding","tag-ma-watch","tag-speed-round","tag-veon","wpautop","entry"],"acf":{"mongo_id":"107dcae0-a42b-424e-af50-5da3c6e6489c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[595857],"teaser":"","voice_url":""},"yoast_head":"\nVeon MTO for Global Telecom closes - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Veon MTO for Global Telecom closes\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Veon MTO for Global Telecom closes: Global Telecom Holding\u2019s (GTH) sale of 1.99 bn shares in a mandatory offer (MTO) launched by majority shareholder Veon to acquire 42.3% of the company is now complete and the MTO has closed, according to an emailed statement (pdf) from Shalakany Law firm, Veon\u2019s lead counsel. Veon […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-08T04:00:04+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Veon MTO for Global Telecom closes\",\"datePublished\":\"2019-08-08T04:00:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\"},\"wordCount\":145,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Global Telecom Holding\",\"M&A Watch\",\"SPEED ROUND\",\"Veon\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\",\"name\":\"Veon MTO for Global Telecom closes - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2019-08-08T04:00:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Veon MTO for Global Telecom closes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Veon MTO for Global Telecom closes - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/","og_locale":"en_US","og_type":"article","og_title":"Veon MTO for Global Telecom closes","og_description":"M&A WATCH- Veon MTO for Global Telecom closes: Global Telecom Holding\u2019s (GTH) sale of 1.99 bn shares in a mandatory offer (MTO) launched by majority shareholder Veon to acquire 42.3% of the company is now complete and the MTO has closed, according to an emailed statement (pdf) from Shalakany Law firm, Veon\u2019s lead counsel. Veon […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2019-08-08T04:00:04+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Veon MTO for Global Telecom closes","datePublished":"2019-08-08T04:00:04+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/"},"wordCount":145,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","Global Telecom Holding","M&A Watch","SPEED ROUND","Veon"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/","url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/","name":"Veon MTO for Global Telecom closes - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2019-08-08T04:00:04+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/veon-mto-for-global-telecom-closes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Veon MTO for Global Telecom closes"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":596959,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/veon-nearly-completes-mto-of-42-3-of-global-telecom-holding\/","url_meta":{"origin":595862,"position":0},"title":"Veon nearly completes MTO of 42.3% of Global Telecom Holding","author":"enterpriseam admin","date":"14 July 2019","format":false,"excerpt":"M&A WATCH- GTH nearly completes sale of 42.3% stake to Veon: Global Telecom Holding (GTH) shareholders have completed the sale of 37% of the 1.99 bn shares in a mandatory tender offer (MTO) launched by majority shareholder Veon to acquire 42.3% of the company, the local press reported. Shareholders offered\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596630,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/gth-board-cancels-shareholders-meeting-over-the-planned-capital-increase\/","url_meta":{"origin":595862,"position":1},"title":"GTH board cancels shareholders meeting over the planned capital increase","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"M&A WATCH- Global Telecom MTO progresses after tax dispute resolution: Global Telecom Holding (GTH) shareholders have offered to sell 37% of the 1.99 bn shares targeted in a mandatory tender offer launched by majority shareholder Veon to acquire 42.3% of GTH, according to Al Mal. The MTO kicked off yesterday,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598825,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/10\/veon-agrees-to-pay-egp-2-2-bn-to-settle-gths-tax-dispute\/","url_meta":{"origin":595862,"position":2},"title":"Veon agrees to pay EGP 2.2 bn to settle GTH\u2019s tax dispute","author":"enterpriseam admin","date":"10 June 2019","format":false,"excerpt":"EXCLUSIVE- Veon looks set to pay up to EGP 2.2 bn to settle Global Telecom Holding\u2019s tax dispute in Egypt: Telecom group Veon has agreed in principle to pay as much as EGP 2.2 bn to end a tax dispute between Egypt\u2019s Tax Authority and Veon subsidiary Global Telecom Holding\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1049.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599415,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/27\/gth-signs-dispute-settlement-agreement-with-egypts-tax-authority-fra-approves-veon-mto\/","url_meta":{"origin":595862,"position":3},"title":"GTH signs dispute settlement agreement with Egypt\u2019s Tax Authority, FRA approves Veon MTO","author":"enterpriseam admin","date":"27 June 2019","format":false,"excerpt":"GTH signs tax settlement agreement, regulator approves Veon\u2019s MTO, ending the years-long saga: Veon subsidiary Global Telecom Holding (GTH) signed a USD 136 mn tax settlement agreement with the Egyptian Tax Authority, GTH said in a bourse filing (pdf). GTH has called for a shareholders\u2019 meeting on 27 August to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1049.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596130,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/19\/gth-board-approves-veons-offer-to-acquire-usd-2-3-bn-assets\/","url_meta":{"origin":595862,"position":4},"title":"GTH board approves Veon\u2019s offer to acquire USD 2.3 bn assets","author":"enterpriseam admin","date":"19 August 2019","format":false,"excerpt":"GTH board approves Veon\u2019s offer to acquire USD 2.3 bn assets: Global Telecom Holding\u2019s (GTH) board of directors has approved Veon\u2019s offer to acquire all of GTH\u2019s operating assets for USD 2.3 bn, GTH said in a bourse filing (pdf). Veon will acquire the company\u2019s stakes in Jazz, Bangalink, Djezzy\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637169,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/09\/veon-submits-mto-for-gth-at-egp-7-90-per-share\/","url_meta":{"origin":595862,"position":5},"title":"Veon submits MTO for GTH at EGP 7.90 per share","author":"enterpriseam admin","date":"9 November 2017","format":false,"excerpt":"M&A WATCH- Veon Holdings is seeking approval from the Financial Regulatory Authority (FRA, formerly EFSA) for a mandatory tender offer to buy 1.998 bn shares of Global Telecom Holding (GTH) at EGP 7.90 per share, according to Reuters. FRA says it is studying the offer. 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