Belgium's Proximus rises after its TeleSign unit agrees SPAC merger [Reuters]
PROXIMUS GROUP UNSP/ADR (BGAOY)
NASDAQ:AMEX Investor Relations:
proximus.com/en/investors
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Source: Reuters
Belgium's Proximus rises after its TeleSign unit agrees SPAC merger By Anait Miridzhanian 2 Min Read Dec 17 (Reuters) - Shares in Belgian state-controlled telecoms firm Proximus rose on Friday after its subsidiary TeleSign agreed to merge with a New York blank-cheque company in a deal that would value the unit at $1.3 billion. U.S.-listed North Atlantic Acquisition Corporation (NAAC) , chaired by Diageo’s former Europe chief Andrew Morgan, said on Thursday it would buy a minority stake in TeleSign for a total transaction size of $487 million. NAAC said it would raise another $107.5 million to complete a deal. Proximus shares were up 4% to 17.66 euros at 1122 GMT. “By facilitating TeleSign’s intended introduction to public equity markets we can accelerate its next phase of growth, addressing the underserved digital identity and engagement space,” NAAC CEO Gary Quin said in a statement. California-based TeleSign helps businesses to secure their digital identities, prevent fraud and est
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