Cairo – Mubasher: Global Telecom Holding (GTH) on Sunday announced terminating the sale of towers owned by its Pakistani subsidiary Jazz to Tanzanite Tower Ltd.
The parties have not received all the regulatory approvals for the transaction yet and extended final date set for delivery ended on 14 September, the Cairo-based firm said in a filing to the Egyptian Exchange (EGX).
In August 2017, the Pakistan operator Tanzanite signed an agreement for the sale with Jazz.
In July, GTH unveiled it received an offer from VEON Ltd to purchase its assets in Jazz and associated operations for $2.55 billion.
The telecom company noted at the time that its board was studying the offer and would proceed in accordance with the applicable laws and regulations.
