According to De Standaard, this follows a bidding process that in its financial stage also involved Telenet, with three financial funds having dropped out at an earlier stage.
It adds that the development is a blow to Telenet, which previously targeted Voo in 2006 and again in 2019.
Voo was the missing piece in Telenet’s portfolio which would have made it a national player in the country’s cable industry. Although Orange has yet to issue a release, Telenet said in a statement that it was not withheld by Nethys to enter into exclusive negotiations to acquire a majority shareholding in VOO.
It added: “Telenet’s interest in acquiring Voo comprised a futureproof industrial telco project in Wallonia and throughout Brussels. Telenet regrets today’s decision as an acquisition by Telenet would have brought benefits to the overall competitive landscape in Belgium, the Walloon and Brussels regions and for Voo as a company”.