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Holding VEON entered into an agreement with CK Hutchison Holdings Ltd. about the sale of 50% in the joint Italian Wind Tre business, reported VEON .
Control over Italian affairs will remain at CK Hutchison. It is expected that the operation will be completed in the third quarter or the beginning of the fourth quarter of 2018. VEON will retain its stake in Djezzy in GTH (owns 57.7% GTH ).
As a result of the transaction, the holding will receive 2.45 billion euro The funds must be used by the company prior to the acquisition of Global Telecom Holding SAE in Pakistan and Bangladesh.
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billion) the company will send to the reduction of the group's debt. As expected, the debt / EBITDA ratio will reach 1.8, which is well below the target of 2.0
$ 400 million will be used to streamline the company structure and increase operational activity in emerging markets.
The goal is to increase the value of stocks through a more focused and optimized portfolio, " CEO VEON Ursula Burns, whose words are given in a press release
: simplification of the uktury group art, the increase of operating in emerging markets, strengthen the group of balance and support dividend policy current. Today's transactions are important steps in achieving this goal, "she added.
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