Orange Belgium: agreement to acquire VOO

(CercleFinance.com) - Orange Belgium shares are up over 1.
5% in Brussels after it signed an agreement, on Friday evening, to acquire 75%, minus one share, of VOO SA from Nethys, in a transaction that is based on an enterprise value of 1.8 billion euros for 100% of the capital.

"With the acquisition of VOO, Orange Belgium will have a very high-speed network in Wallonia and part of Brussels, thus reinforcing the deployment of its convergent strategy at national level," the telecom operator said.

Orange is offering Nethys the opportunity to convert its remaining stake in VOO into Orange Belgium shares. The deal's completion is subject to customary conditions precedent, including approval from the European Commission, which is expected in 2022.

Meanwhile in Paris, the Orange share is pretty flat.


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