Egyptian Stock Exchange - Global Financial Control asks that Vion be prevented from voting to raise capital

– Financial control asks Global to prevent Vion from voting to increase capital Source: News and events –

Egyptian stock exchange today

The Financial Supervisory Authority (EFSA) has asked the board of directors of Global Telecom Holding to prevent the main shareholder Fayon from voting on the decision to increase capital at the next general meeting of the company.

Global announced on Thursday the Egyptian stock exchange that the capital increase of at least $ 500 million can be made at the invitation of the shareholders to finance the company's debts and to pay the revenues and financial requirements in 2018-2019.

Global announced last Thursday that it received notification from the main shareholder Fillon to withdraw its offer to immediately acquire the GTH assets in Pakistan and Bangladesh.

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