VEON drops offer to buy GTH stake in Pakistan and Bangladesh

VEON has terminated its offer to acquire the assets of Global Telecom Holding in Pakistan and Bangladesh.
VEON Pakistan
VEON has terminated its offer in the wake of erosion in the value of the Pakistani Rupee and the reaction to the offer by GTH minority shareholders.

VEON said the company is not expecting approval from the minority shareholders for the transaction.

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