11 March 2022

Orange Belgium acquired an almost 75% stake in Voo SA, a telecom and cable operator in Wallonia and the Brussels region.

The transaction gives the entire company an enterprise value of US$2bn), at a price that is 9.5 times Voo’s earnings before interest, taxes, depreciation, amortization and synergies, according to a statement.

“This acquisition reinforces Orange’s leadership in convergence in Europe”,

Mari-Noëlle Jégo-Laveissière, executive vice president for Orange Europe operations said in the statement. Orange said this year that it was actively looking at M&A options across Europe.

Voo, owned by regional telecom firm Nethys SA, runs the cable network in the Walloon region and part of the Brussels region. It offers fixed and mobile telephony, broadband internet and television services.

Nethys will retain a minority stake, with the closing of the deal expected in 2022, subject to approval from the European Commission.

A previous attempt to sell Voo to Providence Equity Partners was blocked by a commercial court in Liege in April last year, according to to reports in European media.