Orange Belgium has announced the successful completion of its acquisition of a controlling stake in VOO SA, a telecommunications provider in Belgium. With this deal, Orange Belgium now holds a 75 percent stake minus one share in VOO SA, while Nethys retains the remaining 25 percent plus one share. The acquisition solidifies Orange's position in the Belgian telco market and sets the stage for future growth and innovation.
Also Read: VOO Announces Expansion of Gigabit Connectivity to Namur
Commercial Wholesale Agreements with Telenet
The acquisition follows the signing of two commercial fixed wholesale agreements between Orange Belgium and Telenet in January 2023. These agreements, subject to the completion of the VOO SA acquisition, enable both companies to access each other's fixed networks for a period of 15 years. This collaboration will encompass existing Hybrid Fiber Coaxial technology as well as future Fiber to the Home (FTTH) technologies across their respective network areas.
Also Read: Orange Belgium and Telenet Sign 15 Year Agreement for Fixed Networks
Financing the Acquisition and Convergence Strategy
Valued at Euros 1.8 billion for the entirety of its capital, the acquisition of VOO SA has been financed by Orange Belgium through an intra-Group loan. This significant transaction underscores Orange's commitment to expanding its market presence and capitalizing on the convergence of telecommunications services.
Orange Belgium said, now they have the industrial power, tech means and commercial scale to accelerate and Lead the Future of the Belgian telco market in the interest of all consumers, employees, and society in general."
Also Read: Orange Belgium Receives EC Approval for Voo Takeover
Orange's Commitment to Lead the Future
Orange Europe emphasized the importance of the VOO SA acquisition for Orange's convergence strategy in Belgium. Orange said convergence in Europe has proven to be key to its leadership in Europe and demonstrates how Orange's new strategy, Lead the Future, will continue to meet the digital needs that customers in Europe demand.
With the completion of this acquisition, Orange Belgium is well-positioned to further drive innovation, expand its network capabilities, and deliver enhanced services to customers in the Belgian telco market.
