Nethys to exchange VOO stake for 11% in Orange Belgium

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Nethys to exchange VOO stake for 11% in Orange Belgium
Credit: © Reuters.

BRUSSELS - In a strategic move within the Belgian telecommunications market, Nethys is set to convert its ownership in VOO into a significant stake in Orange Belgium. Following approval from ENODIA today, Nethys initiated the process to exchange its 25% plus one share in VOO for an 11% holding in Orange Belgium. This transaction is designed to maintain Nethys's governance rights and is pending the assessment of an independent committee as well as approval from the General Assembly of Orange Belgium.

Orange Belgium, which reported revenues of €1,391 million for the year 2022, has been on an upward trajectory, bolstered by its acquisition of a majority share in VOO SA back in June 2023. This move has strengthened Orange Belgium's commitment to expanding next-generation connectivity and fostering robust market competition. The company serves over three million customers with multi-gigabit networks that are essential for supporting innovative Internet of Things (IoT) applications.

The strategic acquisition of VOO SA has positioned Orange Belgium favorably for national convergence within the telecommunications sector. The firm continues to invest heavily in network advancements, prioritizing sustainable practices alongside its growth objectives. Orange Belgium's shares are publicly traded on the Brussels Stock Exchange under the ticker OBEL.

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