Cairo – Mubasher: Global Telecom Holding (GTH) on Sunday said that New Street company, a financial advisor, has set the fair value of GTH's stocks in Bangladesh, Pakistan, and Mobilink Microfinance Bank at nearly $3.6 billion, according to a study conducted in a response to minority shareholders' demands.

This valuation is 42% higher than the recently withdrawn offer by Veon Ltd, according to a filing to the Egyptian Exchange (EGX).

Mobilink Bank has been evaluated at around $370 million, GTH noted.

The evaluation report indicates that the currency value of each the Pakistani rupee and the Bangladeshi taka will maintain declining, the company added.

Last week, GTH announced that its independent financial advisor FINCORP had set the average price of some of the company’s assets in Pakistan and Bangladesh between $2.594 billion and $3.319 billion.

Earlier this month, the company said that the Netherlands-based VEON had withdrawn its offer to acquire GTH’s assets in Pakistan and Bangladesh for $2.55 million.

In September, GTH revealed it might not approve VEON’s acquisition offer.