Orange Belgium enters into exclusive negotiations with Nethys for the acquisition of 75% of the capital less one share of VOO SA
23 Novembre 2021 - 7:30AM
Orange Belgium enters into exclusive negotiations with Nethys for
the acquisition of 75% of the capital less one share of VOO SA
Press ReleaseBrussels, 23 November 2021
Orange Belgium enters into
exclusive negotiations with Nethys for the acquisition of 75% of
the capital less one share of VOO SA
Following a competitive selection
process, Orange Belgium was chosen by Nethys to enter into
exclusive negotiations for the acquisition of 75% of the capital
minus one share of VOO SA based on an enterprise value of €1.8
billion for 100% of the capital.
VOO SA is a telecoms operator that owns the
cable network in the Walloon region and part of the Brussels
region. VOO offers a portfolio of fixed and mobile telephony,
broadband Internet and television services.
After 25 years of Orange's presence in Belgium,
the acquisition of VOO will enable Orange Belgium to operate a very
high-speed network in Wallonia and part of Brussels, thereby
reinforcing the deployment of its convergent strategy at a national
level.
The ambitious investment plan and the
combination of VOO's skills and Orange's expertise will make it
possible to ensure and strengthen the quality of VOO's network in
the long term, serving customers and the competitiveness of the
Walloon and Brussels regions.
Orange's industrial project, the complementary
nature of its assets and teams and the social culture of the two
companies offers an attractive outlook for employees of both VOO
and Orange Belgium.
The enterprise value of €1.8 billion for 100% of
the capital corresponds to an EBITDA1 multiple before synergies of
9.5x.
Orange Belgium, which currently has very low
leverage, would finance this transaction by increasing its debt,
with the support of Orange SA.
No further comment can be given on the process
at this stage. Further details of the transaction will be disclosed
at the time of signing.
About Orange BelgiumOrange Belgium is one of the major
telecommunication operators on the Belgian market, with over 3
million customers, and in Luxembourg, via its subsidiary Orange
Communications Luxembourg.As a convergent player, it provides next
generation connectivity services to residential customers through
multi-gigabits mobile, cable and optic fiber networks, also
relating to the Internet of Things. Its high-performance mobile
network is equipped with the latest technologies and benefits from
continuous investments preparing for the arrival of 5G. As a
responsible operator, Orange Belgium is also investing to reduce
its ecological footprint and promote sustainable and inclusive
digital practices.Orange Belgium is a subsidiary of the Orange
Group, one of the main operators in Europe and Africa for mobile
telephony and internet access and a world leader in
telecommunication services for companies.Orange Belgium is listed
on the Brussels Stock Exchange (OBEL).For more information go to:
corporate.orange.be, www.orange.be or follow us on Twitter:
@pressOrangeBe.
Press
contactYounes Al Bouchouari –
younes.albouchouari@orange.com +32 (0)477 69 87
73press@orange.be
Investor
RelationsKoen Van Mol – koen.vanmol@orange.com
+32 (0)495 55 14 99
1 Based on VOO's EBITDA forecast for 2021.
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