Linklaters advises Proximus on the strategic acquisition of Route Mobile

We advised Proximus on the finalization of the acquisition for EUR 643 million of 58% of shares in Route Mobile, a global company specializing in CPaaS services, listed on the Indian stock exchange. The acquisition also triggered a mandatory tender offer under Indian takeover laws, which resulted in the acquisition of an additional 24.99% stake in Route Mobile for approximately EUR 293 million. Following this acquisition, some of the founding shareholders of Route Mobile re-invested approximately €299 million in Proximus Opal, one of Proximus’ subsidiaries, to acquire a 12.72% stake in Proximus Opal.

This transaction strengthens Proximus’ position as a leader in the CPaaS and digital identity sectors. This acquisition is a key element of Proximus’ strategy to strengthen its leadership position in the domestic market while expanding its international reach. It also marks a transformational step for Proximus, combining the strengths of Route Mobile and Telesign to create a robust product suite and deliver significant shareholder value.

The acquisition, an all-cash transaction, was financed through a bond issue in March 2024.

The multi-jurisdictional team was led by Eric Pottier (Partner, Brussels) with support from Viktor Pokorny (Managing Associate, Brussels), Tanaya Rajwade (Associate, London) and Philippe de Lathuy (Associate, Brussels).

Thierry L’Homme (Senior Counsel, Brussels), Jonathan Gafni (Senior Counsel, Washington), Francis Wijnakker (Legal Counsel, Brussels) and Sophie Noirfalisse (Associate, Brussels).