Proximus Opal is set to buy a nearly 58 per cent stake in Route Mobile for Rs 59.22 billion, at par with its Indian peer’s current market value. Proximus Opal will pay Rs 1,626.40 per Route Mobile share.
The company will also have to make an offer to buy an additional stake of up to 26 per cent in Route Mobile at the same price from retail shareholders, in accordance with Indian regulations.
The partnership will pave the way for Route Mobile to achieve its billion-dollar annual revenue run rate earlier than the anticipated 3-4 years time frame.
