In response to complex changes in the current international market environment and in accordance with its development strategy and operational plans, Rolling Wireless recommended to its investor, Fibocom, to seek a new owner outside China to reinforce Rolling Wireless' position as a European entity.
Accepting the recommendation, Fibocom decided to sell 100% of the equity in Rolling Wireless (Luxembourg) S.à r.l. and all its subsidiaries.
As of the date of this announcement, all parties have finalized the equity change and asset transfer procedures concerning Rolling Wireless (Luxembourg) S.à r.l. The transaction is now complete, and Fibocom no longer holds any equity in Rolling Wireless. Consequently, Rolling Wireless and its subsidiaries will no longer be part of Fibocom’s consolidated financial statements.
The new owner is a fund composed of international investors predominantly from Europe and North America, with some representation from Asia.
Since its inception in 2020, Rolling Wireless has operated entirely independently of Fibocom. The company will continue to operate independently under the new ownership. There will be no changes to Rolling Wireless’s management, locations, daily operations, strategic goals, or product strategy as a result of the ownership change.