Liberty Global’s Belgian operator Telenet would be prepared to pay EUR1,3 billion to acquire the Walloon telecommunications company VOO.
John Porter, CEO of Telenet, confirmed in an interview with newspaper L’Echo interest in acquiring VOO. However, VOO itself says that it is not for sale.
in addition to the EUR1.3 billion, Telenet would also invest EUR300 million in the telecom operator’s network. Telenet’s valuation does not include Brussels operator Brutele, which also uses the brand name VOO and is estimated to be worth around EUR300 million.
Furthermore, the company would set up an advisory council consisting of politicians. Telenet has only just dissolved its own advisory council following a scandal. In Wallonia, such a council should ensure that Walloon politicians have a say in the company’s direction.
VOO is currently owned by Brutélé and Nethys, who insist that the telecom operator is not for sale. Just recently, Orange Belgium also expressed an interest in a acquiring the Walloon operator.
With its valuation of EUR 1,3 billion, Porter would also have abandoned Brutélé’s Brussels network (which is estimated at an additional EUR 300 million).
If the takeover should not be successful, Porter is considering leasing the VOO network if necessary. VOO and Telenet have been working together for some time, and have concluded a cooperation contract again, whereby VOO buys mobile services from Telenet.
