- Route promoters to sell their entire stake to Proximus group for 1626/share. In return, Route promoters will invest ~300mn EUR (2768Cr INR at current exchange rates) in Proximus Opal stocks for a 14.5% stake
- Proximus Group operates in the space of digital comms and ICT solutions and own a business called Telesign which is into Digital Identity. Mostly Europe based revenues.
- Rajdip will continue to serve as CEO of Route Mobile
- Deal will trigger an open offer for additional 26% of shares o/s
I don’t understand this transaction from Route promoter’s POV. They are selling their entire stake in a company which is supposed to be in a “sunrise” industry at a price which is certainly not “outlandish”. Plus, they are re-investing 45%+ of their Route mobile equity back into Proximus stock where they wouldn’t have control over Route decisions.
What do Route Mobile shareholders think about this deal?
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