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Orange Belgium buys VOO

December 25, 2021 09.06 Europe/London By Chris Dziadul

Orange Belgium has agreed to buy 75% less one share in VOO, a telecom operator that owns the cable network in the Walloon region and part of the Brussels region.

The move follows a period of exclusive negotiations with Nethys that began on November 22 and the transaction is based on an enterprise value of €1.8 billion for 100% of the capital. Under the terms of the deal, retain a minority stake in VOO and governance rights to guarantee the implementation of the industrial and social project. Orange is offering Nethys the possibility of converting its stake in VOO into Orange Belgium shares to secure the development of VOO and Orange Belgium through further integration between the two companies.

The closing of the transaction is subject to customary conditions precedent, including the approval of the European Commission expected in 2022. Until such approvals and closing of the transaction are obtained, the two companies will continue to operate independently.

Commenting on the transaction, Mari-Noëlle Jégo-Laveissière, executive VP, Orange Europe Operations, said: “This acquisition reinforces Orange’s leadership in convergence in Europe and confirms the Group’s long-term commitment in Belgium. This operation is based on a strong industrial project, drawing on the complementary nature of Orange Belgium and VOO”.

Xavier Pichon, CEO of Orange Belgium, added: “25 years after the creation of Mobistar and 5 years after the launch of our first fixed-line offers, this operation reinforces the deployment of Orange Belgium’s convergent strategy at national level. Our investment plan will enable us to upgrade the network to multi-gigabit for the benefit of customers and the competitiveness of Wallonia and Brussels. The merger of Orange Belgium and VOO, two companies with highly complementary assets and skills, will benefit the employment and development of the employees of both companies”.

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Filed Under: Editor's Choice, Newsline, Top Story Tagged With: Belgium, Orange Belgium, VOO Edited: 5 January 2022 13:06

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About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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