Nethys confirms to Orange Belgium its intention to convert its stake in VOO into Orange Belgium shares
21 November 2023 - 5:00PM
Nethys confirms to Orange Belgium its intention to convert its
stake in VOO into Orange Belgium shares
Press releaseBrussels, 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 BelgiumOrange 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).
For more information on the internet and on your
mobile: corporate.orange.be, www.orange.be or follow us on Twitter:
@pressOrangeBe Orange and any other Orange product or service names
included in this material are trademarks of Orange or Orange Brand
Services Limited.
Press contactSven Adams – sven.adams@orange.com
+32 (0)486 36 47 22Koen Van Mol – koen.vanmol@orange.com +32 (0)495
55 14 99press@orange.be
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