M&A
Belgium's Proximus to acquire a 58% stake in communications tech firm Route Mobile for over Rs.5,922
Belgian government-owned telecom firm Proximus Group is to acquire a 57.56% stake from the promoters of Mumbai-based, publicly listed Route Mobile Ltd for INR 5,922.40 crore. Proximus Opal will also make an offer to acquire at least an additional 26% from public shareholders at a price of INR 1,626.40 apiece. Listed in September 2020, Route Mobile offers omni-channel communication solutions, including automated SMS, WhatsApp notifications, voice-based, and e-mail solutions.
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