Global Telecom Holding SAE (GTHE)

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News

30 May 2018 01:29 PM Global Telecom OGM nods to $100m temporary rise in revolving credit facility

Cairo – Mubasher: The ordinary general meeting (OGM) of Global Telecom Holding has approved to license a $100 million temporary increase in a revolving credit facility agreement with VEON Holdings B.V. The OGM has endorsed the contract at a return …

Corporate Actions

14 May 2018 01:01 PM Global Telecom Q1 profit skyrockets 3,083%

Cairo – Mubasher: Global Telecom Holding on Monday reported a 3,083% year-on-year leap in consolidated profits for the first quarter of 2018. Net profit climbed to $38.2 million in the three-month period ended last March, versus $1.2 million in …

Financial Results

9 May 2018 00:24 PM Global Telecom OKs $100m increase in revolving credit facility

Cairo – Mubasher: Global telecom Holding’s board has approved a $100 million temporary rise in revolving credit facility agreement with VEON Holdings B.V. The temporary increase will be used for the company’s general purposes such as settling the …

Corporate Actions

26 April 2018 02:05 PM Global Telecom doesn't receive new purchase offers - FRA

Cairo – Mubasher: The Financial Regulatory Authority (FRA) on Thursday said that Global Telecom Holding has confirmed that there is no further information regarding the mandatory offer since its latest disclosure on 3 April 2018. The company …

Corporate Actions

18 April 2018 00:59 PM Global Telecom OGM approves FY17 financial results

Cairo – Mubasher: The ordinary general meeting (OGM) of Global Telecom Holding has approved its financial statement for the full-year ended 31 December 2017. The OGM has also approved the board’s report and the auditory report, the company said in …

Financial Results

8 April 2018 11:41 AM Renaissance Capital maintains Hold on Global Telecom at EGP6.2/shr TP

Cairo – Mubasher: Renaissance Capital has maintained their 'Hold' rating on Global Telecom Holding at a target price (TP) of EGP 6.2 per share, narrowing down their equity valuation by 18%. VEON has failed to consolidate Global Telecom for the …

Stock Evaluations

3 April 2018 11:43 AM VEON withdraws offer to buy further stake in Global Telecom

Cairo – Mubasher: Amsterdam-based VEON Ltd, Global Telecom’s main shareholder, notified the Egyptian Financial Regulatory Authority (FRA) that it had withdrawn its mandatory offer to buy the remaining stake in the telecommunications company. VEON …

Corporate Actions

22 February 2018 11:17 AM Global Telecom incurs $42m loss in 2017

Cairo – Mubasher: Global Telecom Holding on Thursday posted that it has swung to losses last year. Consolidated losses amounted to $42 million in 2017, compared to a net profit worth $194 million a year earlier, the company said in a filing to the …

Financial Results

14 February 2018 00:14 PM Global Telecom’s Bangladeshi unit wins $308.6m technology neutral spectrum

Cairo – Mubasher: VEON Ltd and Global Telecom Holding announced that Banglalink, their wholly-owned subsidiary in Bangladesh, has been awarded the technology neutral spectrum in the 1800 and 2100 MHz bands in an auction conducted by the Bangladesh …

Corporate Actions

17 January 2018 02:43 PM Global Telecom’s stock drops to November low after 12-day suspension

By: Heba El Kordy Cairo – Mubasher: Global Telecom’s stock retreated to its lowest level since November 2017 following a 12-day suspension on the Egyptian Exchange (EGX). By 1:34 pm Global Telecom’s stock dropped 1.82% to EGP 7, leading blue-chip …

Trading Activities

26 December 2017 00:57 PM Global Telecom’s Bangladeshi unit to obtain $353m loan

Cairo – Mubasher: Banglalink Digital Communications Limited, a subsidiary of Global Telecom Holding (GTH), has entered into a new floating rate term facilities agreement of a BDT 29.3 billion ($353 million) divided into two tranches. The first …

Corporate Actions

10 December 2017 11:47 AM Global Telecom extends $200m loan with Citi, ING

Cairo – Mubasher: Global Telecom Holding (GTH) on Sunday announced an amendment agreement through which it extends its existing $200 million unsecured short-term loan with Citi and ING Bank. Under the amendment, GTH has extended its loan from 15 …

Banking and Finance

21 November 2017 04:07 PM MubasherTrade sets 2 scenarios for EGX30 composition

Cairo – Mubasher: MubasherTrade Research has put two scenarios for the Egyptian Exchange’s (EGX) main index EGX30 composition after acquiring Global Telecom. The Financial Regulatory Authority (FRA) had previously said that a mandatory tender …

Sector Reports

9 November 2017 01:08 PM Global Telecom Q3 profits fall on lower revenues

Cairo – Mubasher: Global Telecom Holding on Thursday posted a 17% decline in profits to $37 million in the third quarter of 2017, from $44.6 million in the same period of 2016. Operating revenues slipped to $773.1 million in Q3-17 from $787.8 …

Financial Results

6 September 2017 01:39 PM Pakistan Deodar Towers value targets $1bn - GTH

Cairo – Mubasher: Global Telecom Holding (GTH) on Wednesday said that the target value of its Deodar Towers in Pakistan ranges between $698 million and $1.016 billion. Fincorp Investment Holding maintained GTH’s fair value at $104.85 per each …

Companies Investments

30 August 2017 02:40 PM Subsidiary of GTH, VEON sells towers in Pakistan for $940m

Cairo – Mubasher: Global Telecom Holding (GTH) and VEON Ltd on Wednesday signed an agreement to sell towers owned by their subsidiary, Jazz Pakistan, for $940 million (PKR 98.7 billion). Jazz will sell its wholly-owned Deodar Towers to Tanzanite …

Corporate Actions

7 August 2017 06:08 PM Pressures face Global Telecom due to GDRs cancellation - Report

Cairo – Mubasher: Global Telecom Holding is expected to face consecutive obstacles in the next period due to the unclear plans of cancelling its global depository receipts (GDRs) and treasury shares, according to a research by Beltone Financial …

Ratings

3 August 2017 03:44 PM Global Telecom Q2 profits rise 32%

Cairo – Mubasher: Global Telecom Holding posted a 32% year-on-year increase in profits for the second quarter of 2017 due to higher service revenues, according to a bourse filing on Thursday. The Egyptian firm achieved profits of $35.1 million in …

Financial Results

6 June 2017 11:27 AM One transaction worth EGP 645m executed on GTH

Cairo – Mubasher: The Egyptian Exchange (EGX) on Tuesday announced that a transaction was executed on Global Telecom Holding’s (GTH) stock at a value of EGP 645.23 million. About 99.26 million shares were exchanged through the transaction at EGP …

Insider Trading & Treasury Stocks

1 June 2017 10:53 AM VimpelCom changes name to VEON

Cairo – Mubasher: VimpelCom Ltd, the indirect owner of Global Telecom with a stake of 57.7%, has changed the company’s name to VEON Ltd, a bourse filing revealed on Thursday. By 10:18 am Cairo time, Global Telecom’s stock rose 1.08% to EGP 6.57.

Corporate Actions

23 May 2017 01:03 PM GTH unit acquires 4G frequency in Pakistan

Cairo – Mubasher: Jazz, a subsidiary of Global Telecom Holding (GTH), on Tuesday announced the acquisition of a 4G/LTE frequency in Pakistan at a value of $295 million, in addition to a 10% withholding tax. Jazz was awarded a 10 MHz paired …

Companies Investments

16 May 2017 10:49 AM TE joins MSCI EM index; EFG Hermes, TMG switch indices

Cairo – Mubasher: The MSCI Emerging Markets (EM) Index’s May 2017 semi‐annual review, released on Tuesday, has added Telecom Egypt’s (TE) stock to the small- and medium-sized companies’ index. The review also showed that Egyptian Financial Group …

Sector Reports

11 May 2017 11:42 AM Global Telecom Q1 profits fall 99%

Cairo – Mubasher: Global Telecom’s consolidated net profit for the first quarter of fiscal year 2017 declined by 99% to $1.2 million, versus $87.5 million for Q1-16. Consolidated revenues increased in Q1-17 to EGP 752.4 million from EGP 707.1 …

Financial Results

30 March 2017 10:18 AM Global Telecom OGM approves using legal reserve to cover losses

Cairo – Mubasher: Global Telecom Holding said Thursday that its ordinary general meeting (OGM) has approved to use an amount of $182.7 million from the company’s legal reserve to cover losses. The OGM also adopted the financial statements for the …

Corporate Actions

20 March 2017 10:30 AM Global Telecom EGM approves capital cut

Cairo – Mubasher: Global Telecom Holding said Monday that its extraordinary general meeting (EGM) has approved to cut the issued capital from EGP 3.04 billion to EGP 2.73 billion via writing off about 524.5 million treasury shares. The EGM agreed …

Corporate Actions