VEON buys 42.31% in Egypt’s GTH for $587 mln, consolidates 98%

MOSCOW, Aug 6 (PRIME) -- VEON Holdings B.V., affiliate of VEON, the sole owner of Russian mobile operator VimpelCom, has acquired a 42.31% stake in Cairo-domiciled Global Telecom Holding (GTH) for about U.S. $587 million, VEON said in a statement on Tuesday.

The deal is expected to be closed in five working days, after the deal VEON will own about 98.24% in GTH.

VEON announced the agreement in February, offering about $600 million for the stake, the price fell in June by about 4%.

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