A flag with the emblem of Proximus is seen on the headquarters of the Belgian telecoms operator in Brussels, Belgium.
| Photo Credit: Reuters
Belgian telecom service provider Proximus Group on July 17 mentioned it can buy a 57.56% stake in Route Mobile for $720.53 million.
Proximus can pay ₹1,626.40 per share of the Indian cloud communications platform provider, the previous mentioned in a press release, in contrast with Route Mobile’s closing value of ₹1,625.35 on Friday.
Route Mobile’s shares have been down 1.7%, reversing course after the inventory jumped 8.3% to ₹1,759.90 after the announcement, its highest since February 2022.
The acquisition will set off a compulsory takeover provide for up to a further 26% of the whole excellent shares on the similar value per share in accordance to Indian rules, Proximus added.
