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.