EC OKs Orange Belgium/ VOO deal
March 21, 2023
The European Commission has approved the acquisition of 75 per cent of the capital less one share of VOO SA by Orange Belgium. This decision, which validates the commitments already taken by Orange Belgium and that have been integrated in its business plan, allows the company to move forward with the acquisition. The European Commission states that “these commitments fully address the competition concerns identified by the European Commission. It therefore concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns”.
Orange Belgium is pleased that the final phase of the buyout is now underway towards the closing of the transaction, expected to take place by the end of Q2 2023.
“We are thrilled by the decision of the European Commission,” declared Xavier Pichon, Chief Executive Officer at Orange Belgium. “After more than 25 years of Orange’s presence in Belgium, the acquisition of VOO is a major step and will enable us to operate a very high-speed network in Wallonia and part of Brussels, thereby reinforcing the deployment of our convergent multigigabit strategy at a national level. Our ambitious investment plan, in combination with VOO’s and Orange’s skills and expertise, will strengthen the quality of our offers to the customers and ensure competitiveness in the Walloon and Brussels regions.”