Key Points
Belgian telecom service provider Proximus Group will buy a 57.56 per cent stake in Route Mobile, for Rs 5,922.40 crore, the company said on Monday..
The company said that the acquisition of the majority stake will trigger a mandatory takeover offer (MTO), in accordance with Indian regulations, for up to 26 per cent of the total shares outstanding of Route Mobile at the same price per share...
The acquisition and MTO will be followed by a reinvestment of 299.6 million by some of the founding shareholders of Route Mobile for up to 14.5 per cent of the shares of Proximus..
With Route Mobile and Telesign, Proximus Group now holds two strong and highly complementary global assets, both from geography and product expertise standpoints..
Route Mobile, with its strong CPaaS omnichannel product offerings and deep entrenchment in emerging markets coupled with Telesign's strong presence in developed markets and a very robust digital identity stack, complement each other immensely to create a very strong value proposition for the Proximus Group and its stakeholders, said Rajdip Gupta, CEO of Route Mobile...
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Route Mobile promoters to sell majority stake to Proximus for Rs 5,922 crore
17, Jul, 23Proximus will pay 1,626.40 rupees per share of the Indian cloud communications platform provider, the former said in a statement, compared with Route Mobile's closing price of Rs 1,625.35 on Friday.