Proximus rises on reorganisation of international activities
18/12/2024 09:21
** Shares of Proximus PROX.BR rise 3.6% after the Belgian
telecoms group said on Tuesday it would integrate its
international activities under a new entity, Proximus Global
** Proximus will hold a 91.3% stake in Proximus Global,
which will include its fully-owned units BICS, Telesign as well
as the majority stake in Route Mobile it acquired earlier this
year
** The transaction values Proximus Global at about EUR 3.1
billion equity value, the company said
** "This entity could be used going forward to divest it
partially through a direct sale or a separate listing. This
would improve Proximus' balance sheet and confirm today's
valuation," Degroof Petercam says
** It adds Proximus is actively working on showing the value
creation they realised by combining Telesign, Route Mobile and
BICS
** Proximus reiterates its mid-term ambitions
** Proximus' shares are on track for their best day since
Oct. 25 if gains hold
($1 = 0.9528 euros)
(Reporting by Gianluca Lo Nostro)
((gianluca.lonostro@thomsonreuters.com;))