AMSTERDAM, Sept. 9, 2019 /PRNewswire/ -- VEON Holdings
B.V. ("VEON Holdings"), a wholly-owned subsidiary of VEON
Ltd. (NASDAQ, Euronext Amsterdam: VEON, together with VEON
Holdings, "VEON"), today announces that VEON's offer to acquire
substantially all of the operating assets of Global Telecom Holding
S.A.E. ("GTH") has been approved by GTH's shareholders.
Following that approval, VEON has completed the intragroup
transfers of Jazz, Banglalink and Med Cable.
Ursula Burns, VEON's Chairman and
Chief Executive Officer, commented: "We welcome today's
approval, which follows the success of our recent tender offer for
GTH's shares and the subsequent delisting of GTH from the Egyptian
Exchange. We appreciate the cooperation of the
Egyptian authorities throughout this process. This now enables us
to embark on a comprehensive restructuring of GTH, further
simplifying our Group structure."
VEON also confirms that the second settlement payment of
USD 82.3 million relating to
outstanding tax liabilities of GTH and its Egyptian subsidiaries
has now been paid by GTH to the Egyptian Tax Authority. As a
result, GTH has resolved all outstanding tax liabilities in
Egypt for the tax years 2000
through 2018.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider
of connectivity and internet services, headquartered in
Amsterdam. For more information
visit: http://www.veon.com.
Disclaimer
This release contains "forward-looking statements", as the
phrase is defined in Section 27A of the U.S. Securities Act of
1933, as amended, and Section 21E of the U.S. Securities Exchange
Act of 1934, as amended. Forward-looking statements are not
historical facts, and are inherently subject to risks and
uncertainties, many of which VEON cannot predict with accuracy and
some of which VEON might not even anticipate, including the
achievement of the potential benefits of the transactions described
above, completion timing, and the receipt of necessary regulatory
approvals. The forward-looking statements contained in this release
speak only as of the date of this release. VEON does not undertake
to publicly update, except as required by U.S. federal securities
laws, any forward-looking statement to reflect events or
circumstances after such dates or to reflect the occurrence of
unanticipated events.
Elements of this release contain, or may contain, "inside
information" as defined under the Market Abuse Regulation (EU) No.
596/2014.
VEON Contact information
Investor Relations
Nik Kershaw
ir@veon.com
Communications
Kieran
Toohey
pr@veon.com
+31-651-02-2437
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SOURCE VEON Ltd.