February 13, 2018 / 6:57 PM / 6 months ago

BRIEF-Veon Announces That Banglalink Acquires Additional Spectrum And 4G/Lte License

Feb 13 (Reuters) - VEON LTD:

* BANGLALINK ACQUIRES ADDITIONAL SPECTRUM AND 4G/LTE LICENSE

* ‍VEON AND GLOBAL TELECOM HOLDING ANNOUNCE THAT BANGLALINK WAS AWARDED TECHNOLOGY NEUTRAL SPECTRUM IN 1800 AND 2100 MHZ BANDS​

* ‍BANGLALINK WILL PAY A TOTAL OF USD 308.6 MILLION FOR SPECTRUM EXCLUDING VAT​

* ‍AN UPFRONT PAYMENT OF 60% FOR SPECTRUM WILL BE PAYABLE IN APPROXIMATELY 30 DAYS​

* ‍REMAINING 40% PAYABLE OVER FOUR YEARS.​

* BANGLALINK WILL PAY $35 MILLION TO CONVERT ITS EXISTING SPECTRUM HOLDING IN 900MHZ AND 1800MHZ INTO TECHNOLOGY NEUTRAL SPECTRUM​

* ‍BANGLALINK WILL PAY USD 1.2 MILLION TO ACQUIRE 4G/LTE LICENSE​

* ‍INVESTMENT WILL BE FUNDED THROUGH LOCALLY AVAILABLE CASH

* ‍INVESTMENT WILL BE FUNDED THROUGH BDT-DENOMINATED FACILITY SIGNED BY BANGLALINK IN DECEMBER 2017​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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