Orange Belgium in VOO acquisition talks
November 23, 2021
Orange Belgium is in negotiations with Nethys for the acquisition of 75 per cent of VOO – a telco 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.
Following a competitive selection process, Orange Belgium was chosen by Nethys to enter into exclusive negotiations for the acquisition based on an enterprise value of €1.8 billion for 100 per cent of the capital.
Orange Belgium says the acquisition of VOO will enable it “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”.
Orange Belgium, which currently has very low leverage, says it will finance this transaction by increasing its debt, with the support of parent company Orange SA.