The Belgian Competion Authority (BCA) has approved the planned takeover of Coditel Brabant and its subsidiary Coditel, together known as SFR BeLux, by Telenet. As a result, the acquisition can be finalised over the coming days.
SFR BeLux uses the brand name SFR, formerly Numéricable, to provide cable and mobile telephony services to families and companies in Brussels, Wallonia and the Grand Duchy of Luxembourg.
As previously reported by Broadband TV News, last December Telenet announced that it had concluded an agreement to buy Coditel Braband and its subsidiary Coditel from Coditel Holding, a subsidiary of Altice, for €400 million on a cash and debt-free basis. Telenet notified the BCA of the transaction on March 27 this year.
The BCA has approved the transaction subject to conditions intended to ensure that Orange will have access to SFR’s cable network. Telenet has in particular committed that Orange will be able to access SFR’s cable network within four months of completion of the transaction, and this at wholesale prices comparable to those applicable in the Flanders.
As a result of this acquisition, Telenet will become the owner of an additional fixed cable network in parts of Brussels, Wallonia and the Grand Duchy of Luxembourg (the “SFR BeLux” footprint). In Brussels, it will be able to expand its coverage to two thirds of municipalities, making it the largest cable operator in the capital.
Telenet notes that the first priority after closing of the transaction will be to improve the quality of the network and customer service, to bring it to the high level of quality that Telenet is known for in Flanders.
John Porter, CEO Telenet, said: “We are very pleased that we have received the green light from the Belgian Competition Authority today. After closing of the takeover, we will also be able to do in Brussels, parts of Wallonia and the Grand Duchy of Luxembourg what we are so good at in Flanders: providing high quality telecom and media products so that our customers are ready for the digital future. Our DNA has a strong customer focus and a drive towards permanent innovation. And that’s what we also want to show in the SFR BeLux area. At the same time, we can grow as a company and take a further step towards becoming a truly national player.”