Cairo – Mubasher: Global Telecom Holding (GTH) has not reached a decision to buy treasury shares, said Alaa Tayel, GTH investor relation manager.

“The board of directors did not actually convent to decide over this regard, Tayel told Mubasher in a phone call.

The Egyptian Exchange suspended trading on Global Telecom Holding starting from 12 January 2017, according to a bourse statement.

This suspension is expected to last until the company release a statement regarding the sale if treasury shares.

The company’s Q3 profits leapt 235.3% year-on-year to $44.6 million (EGP 395.81 million) from $13.3 million (EGP 118.03 million), according to a bourse statement on Thursday.

Over the first nine months, the company swung into profits after registering $158.6 million profits against $27 million losses, according to the consolidated results.