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Veon -4.6% as Telenor preps 90M-share sale

Published 09/20/2017, 04:30 PM
© Reuters.  Veon -4.6% as Telenor preps 90M-share sale
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  • Veon (NASDAQ:VEON) is off 4.6% after hours following news that Telenor (TELNY -0.6%) is set to being divesting the rest of its stake in the former VimpelCom.
  • Telenor, Norway's state-owned telecom, is commencing an offering of 90M of its common shares of Veon in the form of common shares on Euronext Amsterdam and ADS listed on Nasdaq.
  • Telenor's current holdings sit at 346.7M ADS, representing 19.7% of Veon common shares -- so the new transaction makes up about 5.1% of Veon shares.
  • Citigroup (NYSE:C) and Morgan Stanley (NYSE:MS) are joint book-runners for the offering.
  • Now read: InterDigital (IDCC) Presents At Dougherty And Company Institutional Investor Conference - Slideshow


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