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GlobalTelecom Hdg (GLTD)

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Monday 20 October, 2014

GlobalTelecom Hdg

GTH sells its operations in Burundi and CAR

RNS Number : 6900U
Global Telecom Holding S.A.E
20 October 2014
 



Global Telecom Holding sells its operations in Burundi and Central African Republic

 

Cairo/London, October 20, 2014: Global Telecom Holding S.A.E. ("GTH") has sold its entire 100% stake in Telecel Globe Limited ("TG"), which owns 100% of each of U-COM in Burundi and Telecel CAR in Central African Republic, for USD 65 million, subject to certain post-closing adjustments. TG was acquired by Econet Wireless Global Limited, a diversified telecommunications group with operations in several countries mainly in Africa.

 

As disclosed earlier, GTH previously agreed to sell TG to another purchaser in 1Q 2013. That purchaser failed to close the deal and forfeited a deposit it had paid to GTH in accordance with the terms of a purchase agreement that is no longer in force.

 

About Global Telecom Holding:

Global Telecom ("GTH") is a leading international telecommunications company operating mobile networks in high growth markets in the Middle East, Africa and Asia, having a total population under license of approximately 415 million as of June 30, 2014. Global Telecom operates mobile networks in Algeria ("Djezzy"), Pakistan ("Mobilink") and Bangladesh ("banglalink"). In addition it has an indirect equity ownership in Telecel Zimbabwe (Zimbabwe). Global Telecom reached 89 million customers as of June 30, 2014.

 

Global Telecom is traded on the Egyptian Exchange under the symbol "GTHE.CA", and on the London Stock Exchange its GDSs are traded under the symbol "GLTD:LI".

 

Investor Relations Contacts:

Mamdouh Abdel Wahab

Head of Investor Relations

Email:  [email protected]

Tel:      +202 2461 5120

Fax:      +202 2461 5055

Website: www.gtelecom.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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