Wednesday, 17 October, 2018, 3:39 AM
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Dutch firm withdraws offer for stakes in BD, Pak

Published : Friday, 12 October, 2018 at 12:00 AM Count : 101
Business Correspondent

Mobile phone operator Veon said on Thursday it was withdrawing an offer to acquire the stakes its GTH unit holds in its Pakistan and Bangladesh businesses, citing concerns about the Pakistani currency and resistance from GTH minority shareholders.
Veon (formerly VimpelCom Ltd.) is a multinational telecommunication services company headquartered in Amsterdam, Netherlands. It predominantly operates services in the regions of Asia, Africa and Europe.
Reuters adds: Veon, which owns a controlling 57.7 percent of Egypt-based GTH, offered to buy the stakes for $400 million in cash and taking over their $1.6 billion in debt, which is already consolidated on Veon's balance sheet.







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