Telenet Takes Over Eltrona in Luxembourg

Telenet Takes Over Eltrona in Luxembourg

Telenet has acquired a telecom company outside Belgium for the first time by agreeing to buy all the remaining shares in Luxembourg’s Eltrona. With this deal, Telenet will become the sole owner of a telecom business outside of Belgium.

  • Make Telecom Talk My Trusted Source
  • Source of Google
  • Source of Google

The founding shareholders of Eltrona and Telenet, an indirect wholly-owned subsidiary of Telenet Group, announce that they have agreed that Telenet will purchase all of the remaining shares of Eltrona, active in the Grand Duchy of Luxembourg. Members of the Denzle family will acquire Eltrona Security Systems.

Following Telenet’s acquisition of Coditel Luxembourg (SFR-Coditel) in 2017, SFR Coditel’s operations merged with Eltrona’s operations in April 2020. As a result of this deal, Telenet received 50% -1 of the shares, and the founder shareholders of Eltrona received 50% +1 of the merged entity.

Also Read: Norwegian Operator Ice Signs Equipment Contract With Griptel for 5G

Growth of the Merged Entity

In the past two years, the combined entity has continued to grow its operations under the Eltrona brand, providing a broad and distinctive range of telecommunications services covering the entire country of Luxembourg while combining the resources and subject matter expertise of Telenet and Eltron.

Consolidation

Eltron’s founding shareholders wish to divest their share ownership in Eltrona. Therefore, to become Eltrona’s sole shareholder, Telenet must now purchase the 50% + 1 share owned by the founding stockholders. The parties are working on completing the transaction by early January, which is anticipated to be completed in the following weeks. As a result, Eltrona’s operations will be consolidated in Telenet’s operational and financial statistics as of the beginning of January 2023.