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Global Telecom Holding (GTHE) said the board of directors had adopted the report of independent financial adviser Grant Thornton Financial Advisors and the Paris Waterhouse Coopers accountant at Vion's bid.
The company said in a statement on Wednesday that the report was to evaluate Vion's offer to buy all essential badets of GTH and the mandatory purchase offer.
The board of directors decided to recommend to shareholders a positive recommendation regarding Vion's offer.
The independent financial advisor estimated that the fair value of Global Telecom Holding Company as of March 31 amounted to LE 23.264 billion, divided into 4.721 billion shares, with an average fair value of LE 4.93 billion per share. action.
Vion Holdings has made an offer to purchase Global Telecom Holding's badets, worth $ 2.986 billion, and expects the currency to purchase the badets be finalized by the end of the year.
In June, EFG-Hermes accepted the mandatory purchase offer by Pione Holdings BV of an amount of 1.997 billion shares, representing 42.31% of the share capital of Global Telecom Holding, and adjusting the spot price per share to £ 5.08. From 5.3 pounds per share of action.
The board of directors of Global Telecom Holding Company has decided to proceed to the optional delisting of shares of the Egyptian Stock Exchange Company after the acceptance of the offer of Fion to acquire its badets as a result of the conclusion of a settlement agreement with the Egyptian tax authority to settle all tax debts owed by the company and its subsidiaries. $ 136 million (equivalent to approximately £ 2.3 billion).
Global Telecom achieved net income of $ 54.3 million for the quarter ended March, compared with $ 31.8 million for the same period last year, and its turnover fell to 688 million. USD, compared to USD 699 million for the same quarter in 2018.
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