• 2017-08-30
    Deodar Press Release - 29-08-2017

VEON and GTH sell their Pakistan tower
business for USD 940 million
Amsterdam, 30 August 2017 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) (VEON) and
Global Telecom Holding S.A.E (EGX: GTHE.CA) (GTH) announce that their subsidiary in Pakistan, Jazz,
has signed an agreement for the sale of its tower business for approximately USD 940 million,
subject to adjustments.
Jazz will be selling its wholly-owned tower company, Deodar, with a portfolio of approximately
13,000 telecommunication towers, to Tanzanite Tower (Private) Limited (Tanzanite), a tower
operating company owned by edotco Group Sdn. Bhd. (edotco) and Dawood Hercules Corporation
(Dawood).
The transaction will be on a cash and debt-free basis, with total consideration of PKR 98,70