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IMI Mobile Acquires WIN Plc With 50.88% Stake; Extends Unconditional Offer Till Aug 25th

Update: IMI Mobile, having acquired 50.88% stake in WIN PLC (9.55% owned and 41.32% in valid acceptances) has made its offer for WIN Plc shares unconditional, and extended its offer until 1.00 p.m. on 25 August 2010. WIN PLC has informed its shareholders that subject to IMImobile Europe becoming the beneficial owner or receiving valid acceptances of at least 75% of the issued share capital of WIN, IMImobile Europe plans to apply to the London Stock Exchange for the cancellation of trading of WIN Shares on AIM. Update (August 3rd): So it isn't over in case there's a counter bid for Bluhone's 2.07% that is 10% higher than the GBP 1.50 bid from IMI Mobile. Given that ECI is backing out, we're saying that the deal is done. Earlier today: Mobile VAS company IMI Mobile* has completed the acquisition of WIN Plc, having received valid acceptances or irrevocable undertakings amounting to 50.26% stake (5,293,393 shares) in the UK based company VAS company. According to a statement released by WIN Plc, IMI Mobile is no longer considering an offer for the whole of the issued and to be issued share capital of WIN. Thus, ECI Partners, which was considering tabling an offer at GBP 1.50, has said that it doesn't intend to make a competing offer. However, keep in mind that ECI, in partnership with MIG (which will compete with IMI Mobile in UK) did manage to push IMI Mobile to raise its offer to WIN shareholders from GBP 1.41 to…

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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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