Orange Belgium enters into exclusive negotiations for the takeover of Voo and ejects Telenet

It is therefore Orange Belgium which is the successful candidate in the acquisition of the Walloon cable operator Voo. Telenet would miss the booty, we learn via De Standaard.

The sale of the operator was long overdue and little information escaped from the meetings within Nethys, the parent company of Voo (and subsidiary of Enodia).

From good sources, we learned that the two operators were on the finish line and that Telenet was making a significant lobbying effort. Xavier Pichon, CEO of Orange Belgium, for his part categorically refused to comment on the negotiations in progress when we had met him a few days ago. The tension was palpable.

After the fiasco of the takeover by the American fund Providence in 2019, here is a page that turns. However, it remains for Orange and Voo to agree on the amount and number of shares that will be bought back. The cable distributor was valued at around 1.4 billion euros and two options remain on the table: a sale of 50% of the shares + one share, or a sale of 75% of the shares.

The municipalities of Liège with stakes in the operator are also awaiting this sale with relative impatience, in particular those which were affected by the floods of last summer.

For Orange Belgium, this would allow it to consolidate its position, while Proximus is increasing its investments and its diversification throughout the territory.

A hard blow for Telenet, therefore, which aspired to attack the Walloon market and had tried it several times, although it has so far been confined mainly to Flanders and Brussels.

More information in a few moments.

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