Press release: Orange Belgium welcomes the decision of the European Commission to authorize the acquisition of a majority stake in VOO SASource: OMX
Brussels, 20 March 2023
Orange Belgium welcomes the decision of the European Commission to authorize the acquisition of a majority stake in VOO SA
The European Commission has approved today the acquisition of 75% 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.
Xavier Pichon, Chief Executive Officer at Orange Belgium, comments: “We are thrilled by the decision of the European Commission. 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.”
About Orange Belgium
Orange Belgium is one of the major telecommunication operators on the Belgian market, with over 3 million customers, and in Luxembourg, via its subsidiary Orange Communications Luxembourg.
As a convergent player, it provides next generation connectivity services to residential customers through multi-gigabits mobile, cable and optic fiber networks, also relating to the Internet of Things. Its high-performance mobile network is equipped with the latest technologies and benefits from continuous investments. As a responsible operator, Orange Belgium is also investing to reduce its ecological footprint and promote sustainable and inclusive digital practices.
Orange Belgium is a subsidiary of the Orange Group, one of the main operators in Europe and Africa for mobile telephony and internet access and a world leader in telecommunication services for companies.
Orange Belgium is listed on the Brussels Stock Exchange (OBEL).
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