GP Grameenphone Ltd

INVESTOR ALERT: Investigation of Graña y Montero Announced by Holzer & Holzer, LLC

ATLANTA--(BUSINESS WIRE)--

Holzer & Holzer, LLC is investigating whether certain statements issued by Graña y Montero, S.A.A. (“Graña” or the “Company”) (NYSE: GRAM) complied with federal securities laws. On February 24, 2017, a report was published claiming Graña knew about bribes paid by its local partner, Odebrecht SA, to former President Alejandro Toledo. Graña was Odebrecht’s junior partner on several projects now under investigation in connection with a corruption probe into Odebrecht. The price of Graña ADRs fell significantly following the report.

If you purchased Graña common stock and suffered a loss on that investment, you are encouraged to contact Corey D. Holzer, Esq. at [email protected] or Marshall P. Dees, Esq. at [email protected], or by toll-free telephone at (888) 508-6832 to discuss your legal rights.

Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content.

EN
27/02/2017

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Grameenphone Ltd. (GP) is primarily engaged in providing mobile telecommunication services (voice, data and other related services), along with digital services in the country. The company also provides international roaming services through international roaming agreements with various operators in different countries across the world. GP generated majority of its revenue from voice segment, constituting an average of 59.2% of its total revenue from FY’19 to FY’23. Additionally, the company e...

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GP paid BDT 17.7bn for the settlement of regulatory disputes: BDT 7.8bn to NBR for the settlement of tax disputes till 2018 and BDT 9.9bn payment to BTRC considering the written judgment for the case relating to VAT mechanism and spectrum assignment fee during 2G license renewal. Operating profit remained flat: 5.6% Revenue growth was offset by increase in non-cash expense (Depreciation and Amortization). c30% earnings growth was driven by Net provision reversal of BDT 2.4bn. Because of cash ...

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Grameenphone: Q1 CY23 Earnings Update:: c4% yoy earnings decline

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Restriction on Grameenphone SIM card sale is withdrawn

On 29th June, 2022, on the ground of the poor service quality, the Bangladesh Telecommunication Regulatory Authority (BTRC) imposed a ban on selling new and old SIM Card for Grameenphone and instructed them to improve their service quality, especially to bring down the call drop rate. Because of the high demand for Grameenphone SIM, on 20th November 2022, BTRC allowed GP to sell 78,000 SIM cards to selective public and private corporate clients, including Bangladesh Armed Forces. Finally, BT...

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