Veon withdraws offer for Global Telecom

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(Telecompaper) Veon announced that it has withdrawn its offer to buy out its Egypt-based subsidiary Global Telecom. The company said it notified the Egyptian Financial Regulatory Authority that, given the lapse of time and absence of approval, Veon is withdrawing the mandatory tender offer filed in November 2017 and does not intend to proceed with another bid at this time.
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