Amsterdam, February 11, 2019 – VEON Holdings B.V. (the “Offeror”), a wholly-owned subsidiary of VEON Ltd. (together with the Offeror, “VEON”), announces that, as set out in a letter from the Egyptian Financial Regulatory Authority (the “FRA”) to the Egyptian Stock Exchange (the “EGX”) dated February 10, 2019, the Offeror has deposited an application to make a public mandatory cash tender offer (the “MTO”) with the FRA in accordance with the provisions of Chapter 12 of the Executive Regulations of the Capital Market Law No. 95 of 1992 for the purchase of up to 1,997,639,608 shares of Global Telecom Holding S.A.E (“GTH”), representing approximately 42.31% of GTH’s issued shares, at a price of EGP 5.30 per share (the “Offer”).
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