VEON And Summit Reach $100M Deal For Partial Sale Of Bangladesh Towers Portfolio; Deal Includes Long-Term Service Partnership; One Third Of Banglalink's Tower Portfolio Transferred
Portfolio Pulse from Benzinga Newsdesk
VEON Ltd. has reached a $100 million deal with Summit for the partial sale of its Bangladesh towers portfolio. The agreement includes a long-term service partnership and involves the transfer of one-third of Banglalink's tower portfolio.
November 15, 2023 | 1:28 pm
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VEON Ltd. has entered into a $100 million transaction with Summit for the sale of a portion of its tower assets in Bangladesh, which includes a strategic long-term service partnership.
The sale of assets is generally seen as a positive move for a company, especially when it includes a long-term service partnership, as it can lead to a more focused business strategy and improved balance sheet. The deal size of $100 million is substantial, and the strategic nature of the partnership may be viewed favorably by investors.
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