Carraun, the parent company of the Irish telecom operator Eir, confirmed today that it has acquired approximately a 6 percent stake in the Belgian full-service operator Proximus. Carraun is controlled by French telecom investor Xavier Niel, who has obtained the stake through his Irish holding company. "Carraun is supportive of the current strategy of Proximus' top management, and, in particular, its ambitious FTTH roll-out plan," Carraun said in a press release.
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Strategic Investment
Carraun said it is making the investment in Proximus to gain exposure to the Belgian leader in connectivity. As the Irish incumbent with more than 2 million subscribers and the number one domestic FTTH network, Carraun, through Eir, expressed that it has a deep understanding of Proximus' business.
Shared Vision
Carraun also noted that Eir is currently pursuing a strategy similar to Proximus, focusing on offering the best value for money to its customers, investing in 5G and FTTH networks, and hiring and retaining top-quality management and employees.
In addition, Proximus has successfully developed an international business through its affiliates BICS and Telesign, a unique position among EU incumbents, Carraun noted.
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Attractive Long-Term Investment
The French investor, who sees Proximus as a very attractive and long-term investment, expressed, "I have been attracted by the Belgian market for a long time with its strong economy and where a sound regulatory approach has led to a vibrant telecom sector."
"Carraun is willing to cooperate with Proximus management and looks forward to building a mutually beneficial partnership, with the ambition to favour value creation for both companies and contribute to economic development in both Belgium and Ireland," the company said in a press release. The company did not disclose the price it paid for the shares.
