{"id":600675,"date":"2019-02-06T03:47:37","date_gmt":"2019-02-06T03:47:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/"},"modified":"2019-02-06T03:47:37","modified_gmt":"2019-02-06T03:47:37","slug":"veon-looks-to-buy-out-global-telecom","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/","title":{"rendered":"Veon looks to buy out Global Telecom"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <b>M&A WATCH- Veon looks take Global Telecom private at EGP 5.30 per share:<\/b> Global Telecom Holding\u2019s (GTH) majority shareholder Veon has unveiled plans to buy out the remaining 42.3% of the company for EGP 5.30 per share, <a href=\"http:\/\/www.egx.com.eg\/downloads\/Bulletins\/226039_2.pdf\">the company said in an EGX disclosure (pdf)<\/a>. The Dutch company intends to submit a mandatory cash tender offer to the Financial Regulatory Authority (FRA) within the next 60 days to purchase the almost 2 bn shares. The offer sits just below <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/28\/veon-might-be-taking-global-telecom-private\/\">estimates given by Shuaa Securities<\/a> last week, which said that Veon would need to offer between EGP 5.31-7.90 per share to make the move viable. Beltone Financial values GTH shares at EGP 6.70 per share,<a href=\"https:\/\/www.almalnews.com\/Story\/409893\/11\/%D8%A8%D9%84%D8%AA%D9%88%D9%86-6-70-%D8%AC%D9%86%D9%8A%D9%87-%D8%A7%D9%84%D9%82%D9%8A%D9%85%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D8%AF%D9%84%D8%A9-%D9%84%D8%B3%D9%87%D9%85-%D8%AC%D9%84%D9%88%D8%A8%D8%A7%D9%84\">Al Mal reported<\/a>, citing a report from the investment bank.<\/p>\n<p><b>Market reaction: <\/b>GTH shares were up 4.16% at the close of play yesterday at 4.76 points. The market reaction following the announcement was rather muted, with the move having already been priced in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-01-27\/veon-seeks-to-turn-global-telecom-into-closed-stock-co\">at the end of January<\/a>.<\/p>\n<p><b>Background: <\/b>Veon <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/28\/veon-might-be-taking-global-telecom-private\/\">announced<\/a> on January 23 that the company was once again considering taking GTH private, and that its general assembly would be postponed until the end of March to consider the move. The Netherlands-based company, which has extensive operations in Russia and the former Soviet Union, <a href=\"https:\/\/enterprise.press\/stories\/2017\/11\/09\/veon-submits-mto-for-gth-at-egp-7-90-per-share\/\">deposited a mandatory offer<\/a> to purchase the shares at EGP 7.90 back in November 2017 but <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/04\/veon-withdraws-mandatory-offer-to-purchase-remaining-stake-of-global-telecom\/\">withdrew it the following April<\/a> after failing to get regulatory approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Veon looks take Global Telecom private at EGP 5.30 per share: Global Telecom Holding\u2019s (GTH) majority shareholder Veon has unveiled plans to buy out the remaining 42.3% of the company for EGP 5.30 per share, the company said in an EGX disclosure (pdf). The Dutch company intends to submit a mandatory cash tender [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":600676,"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":[72,164,9102,7128,2380,9352],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-equities","tag-global-telecom-holding","tag-ma-watch","tag-speed-round","tag-veon","wpautop","entry"],"acf":{"mongo_id":"edba31f2-cb78-4964-9b11-2fb737b4ddb4","is_powered_by":true,"section_story_id":"3c65e187-5219-4325-939d-59c7f86363e4","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/2\/1049.jpg","photo_position":"above","related_issue":[600663],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Veon looks to buy out Global Telecom - 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\/02\/06\/veon-looks-to-buy-out-global-telecom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Veon looks to buy out Global Telecom\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- Veon looks take Global Telecom private at EGP 5.30 per share: Global Telecom Holding\u2019s (GTH) majority shareholder Veon has unveiled plans to buy out the remaining 42.3% of the company for EGP 5.30 per share, the company said in an EGX disclosure (pdf). The Dutch company intends to submit a mandatory cash tender [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-06T03:47:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1049.jpg?fit=%2C&ssl=1\" \/>\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\/02\/06\/veon-looks-to-buy-out-global-telecom\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Veon looks to buy out Global Telecom\",\"datePublished\":\"2019-02-06T03:47:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/\"},\"wordCount\":234,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1049.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"equities\",\"Global Telecom Holding\",\"M&amp;A Watch\",\"SPEED ROUND\",\"Veon\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/veon-looks-to-buy-out-global-telecom\/\",\"name\":\"Veon looks to buy out Global Telecom - 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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\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":600800,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/11\/veon-moves-ahead-with-egx-listed-gth-take-private-bid\/","url_meta":{"origin":600675,"position":1},"title":"Veon moves ahead with EGX-listed GTH take-private bid","author":"enterpriseam admin","date":"11 February 2019","format":false,"excerpt":"M&A WATCH- Veon files for approval of EGP 11 bn GTH takeover bid: Veon Holdings, the majority shareholder in EGX-listed Global Telecom Holding (GTH), has filed for regulatory approval to make a tender offer for the 42.3% of the company that it does not already own, the Financial Regulatory Authority\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":629909,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/veon-withdraws-mandatory-offer-to-purchase-remaining-stake-of-global-telecom\/","url_meta":{"origin":600675,"position":2},"title":"Veon withdraws mandatory offer to purchase remaining stake of Global Telecom","author":"enterpriseam admin","date":"4 April 2018","format":false,"excerpt":"M&A WATCH- Veon withdraws EGP 15 bn bid for Global Telecom: Amsterdam-based Veon Holdings withdrew a mandatory offer to purchase the 42.3% of Global Telecom Holding (GTH) that it doesn\u2019t already own, according to regulatory filing from GTH (pdf). Veon, which owns 57.7% of GTH, said it withdrew the offer\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":596959,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/veon-nearly-completes-mto-of-42-3-of-global-telecom-holding\/","url_meta":{"origin":600675,"position":3},"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 &quot;Speed Round&quot;","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":600675,"position":4},"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. Veon is the name VimpelCom\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":637225,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/gth-appoints-pharos-to-evaluate-veon-mto\/","url_meta":{"origin":600675,"position":5},"title":"GTH appoints Pharos to evaluate Veon MTO","author":"enterpriseam admin","date":"12 November 2017","format":false,"excerpt":"M&A WATCH- Global Telecom Holding (GTH) has appointed Pharos Holding as an independent financial advisor to evaluate the mandatory tender offer presented by Veon Holdings to acquire the company. Veon, which already owns 57.7% of GTH, submitted an offer to acquire GTH shares at EGP 7.90 per share last week.","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=600675"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600675\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/600663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/600676"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=600675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=600675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=600675"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=600675"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=600675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}