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VEON Withdraws Offer To Acquire Assets Of GTH In Pakistan And Bangladesh

VEON Ltd. (VEON), a Dutch provider of connectivity and internet services for emerging markets, announced Thursday that it has terminated its offer to acquire the assets of Global Telecom Holding S.A.E or GTH in Pakistan and Bangladesh.

VEON has terminated its offer in light of recent events surrounding the Pakistani Rupee and the reaction to the offer by GTH minority shareholders, which suggests that approval would not have been forthcoming.

VEON said it will continue to explore options to address its strategic relationship with GTH and its minority shareholders.

In mid- September, VEON had announced that the agreement for the sale of the tower business of its subsidiary in Pakistan, Jazz, to Tanzanite Tower Limited has been terminated.

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