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WIN’s Largest Shareholder Says IMI Mobile’s Bid Undervalues Co

Mobile VAS Company IMI Mobile's* bid to acquire a controlling interest in AIM listed WIN Plc has hit a bump, with ISIS Equity Partners, WIN's largest shareholder, saying that the bid of GBP 1.41 per share, which values WIN PLC at GBP 14,850,455, "would substantially undervalue the Company". At the time of filing this report, WIN PLC was trading at GBP 1.15. According to the statement, ISIS owns 19.01 percent stake in WIN, higher than the 18.56 percent owned by AXA IM UK; a December 2009 statement had suggested that AXA was WIN's largest shareholder, followed by ISIS, but that situation appears to have changed since. The decision rests with the WIN Mobile board, but note that IMI Mobile has an irrevocable undertaking from AXA to accept an offer for WIN, should it be made, at GBP 1.41 per WIN ordinary share (or if…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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