Amsterdam (16 January 2017) – VimpelCom’s subsidiary, Global Telecom Holding S.A.E. (GTH) announced today that it proposes: (i) to launch a fixed price buy-back program to acquire up to 10.00% of the total issued share capital of GTH (the “Share Buy-Back”) at a price per share of EGP (Egyptian pounds) 7.90 and for a total consideration of up to EGP 4.1 billion; and (2) to carry out the cancellation of its GDR program.
VimpelCom, which owns 51.9% of the outstanding shares of GTH, does not intend to participate in the Share Buy-Back.
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