Belgian mobile operator Mobistar has signed an agreement for the take-over of the Luxembourgian mobile telephone operator VOXmobile. In December 2006 the shareholders of VOXmobile authorised a business bank to investigate the strategic options for the company. After the approval of its board of directors Mobistar made a binding take-over offer, that was accepted by VOXmobile. Mobistar buys 90 percent of the VOXmobile shares for EUR 80.3 million. This amount equals proportional the estimated value of the company minus its debts after capitalisation of the shareholders loans. VOXmobile is a Luxembourgian telecom operator that supplies mobile and fixed services for telephony and internet. The company has a licence for GSM 900/1800, UMTS and fix telephony and exploits its own network. In 2006 VOXmobile realised a turnover of EUR 27.673 million and a net loss off EUR 5.75 million. The shareholders of VOXmobile are BIP Investment Partners and Audiolux, who each own 37.5 percent and BIKO, an investment company owned of amongst others by its founders Jean-Claude Bintz and Pascal Koster, for the remaining quarter. With this take-over Mobistar is looking for geographic expansion and extra growth. VOXmobile will continue to exist as a separate entity and will continue to use its own infrastructure and means. The agreement stipulates a continuity of the present management who remains shareholder of 10 percent of the capital. The closing date of the transaction is foreseen for 2 July 2007 at the latest.
Wireless Federation » Mobistar acquires VOXmobile for EUR 80.3 million
Mobistar acquires VOXmobile for EUR 80.3 million
- May 23rd, 2007
- 8:33 am
