Telenet is to extend its cable presence in Brussels, a part of Wallonia and parts of the Grand Duchy of Luxembourg through the acquisition of SFR BeLux.
Its subsidiary Telenet Group BVBA has entered into a definitive agreement to acquire Coditel Brabant SPRL for €400 million on a cash and debt free basis from Coditel Holding S.A., a subsidiary of Altice N.V.
Coditel Brabant SPRL, operating under the SFR brand (formerly Numéricable), provides cable services to households and businesses in Brussels, Wallonia and Luxembourg and offers mobile telephony services in Belgium through an MVNO agreement with Base.
Through the acquisition, Telenet will extend its cable footprint beyond the current Flemish and Brussels coverage areas to parts of Wallonia and the Grand Duchy of Luxembourg. It will then also cover roughly two-thirds of Brussels.
The transaction is subject to customary closing conditions, including approval from the relevant competition authorities.
