Communiqué - Orange Belgium enters into exclusive negotiations with Nethys for the acquisition of 75% of the capital less one share of VOO SA
23 Novembro 2021 - 3:43AM
Communiqué - 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 both
companies’ competences 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
contactsOrange Group : Tom Wright ;
tom.wright@orange.com ; +33 6 78 91 35 11Orange Belgium :
Younes Al Bouchouari ; younes.albouchouari@orange.com ;
press@orange.be ; +32 (0)477 69 87 73
Investor
relations
contactOrange Belgium : Koen
Van Mol ; koen.vanmol@orange.com ; +32 495 55 14 99
1 Based on VOO's EBITDA forecast for 2021.
- PR_Orange_Nethys_exclu_nego_EN_231121