Nethys confirms to Orange Belgium its intention to convert its stake in VOO into Orange Belgium shares
Press release
Brussels, 21 November 2023 – 7:00
Regulated information
Nethys confirms to Orange Belgium its intention to convert its stake in VOO into Orange Belgium shares
UPDATE
Last week, Orange Belgium confirmed that it was in discussions with Nethys about converting its 25% + 1 share in VOO into Orange Belgium shares. This option is available to Nethys as part of the acquisition of VOO by Orange Belgium.
After obtaining ENODIA’s agreement, Nethys today officially informed Orange Belgium that it wishes to initiate the process of converting its stake in VOO into Orange Belgium shares. At the end of this process, Nethys would obtain an 11% stake in Orange Belgium and would retain, once in the capital of Orange Belgium, the governance rights associated with its stake in VOO.
This transaction will be presented to the Orange Belgium Board of Directors in the next few days. To the extent that this transaction falls within the scope of the procedure provided for in Article 7:97 of the Companies and Associations Code, it will be analysed by a committee of independent Orange Belgium directors, with the support of an independent expert, who will submit an opinion to the Board of Directors. The transaction will then have to be approved by the General Assembly of Orange Belgium.
About Orange Belgium
Orange Belgium is one of the major telecommunication operators on the Belgian market, with revenues of 1,391 million euros in 2022 and over 3 million customers on 31 December 2022, and in Luxembourg, via its subsidiary Orange Communications Luxembourg. As a convergent player, it provides next generation connectivity services to residential and business customers through multi-gigabits mobile, cable and optic fiber networks, also relating to the Internet of Things (IoT). 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.
In June 2023 Orange Belgium completed the acquisition of a 75% stake minus 1 share in telco operator VOO SA. This acquisition represents a major step forward in Orange Belgium’s national convergent strategy and will increase investment and competition in the telecommunications sector for the benefit of customers and the competitiveness of the Walloon and Brussels regions.
Orange Belgium is a subsidiary of the Orange Group, present in 26 countries with a total customer base of 287 million customers worldwide on 31 December 2022. The Group is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business.
Orange Belgium is listed on the Brussels Stock Exchange (OBEL).
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Press contact
Sven Adams – sven.adams@orange.com +32 (0)486 36 47 22
Koen Van Mol – koen.vanmol@orange.com +32 (0)495 55 14 99
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