Telenet Fluvius partnership to be notified to European Commission
The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 on the obligations of issuers of financial instruments admitted to trading on a regulated market. Inside information.
Mechelen, 17 November 2022 - Today, Telenet BV Telenet BV, a wholly owned indirect subsidiary of Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) and Fluvius System Operator CV ("Fluvius") have been informed that their agreement to collaborate to build the network of the future in Flanders and parts of Brussels will have to be notified to the European Commission's Directorate-General for Competition under the EU merger control rules as it falls within the scope of EU Merger Regulation and so requires prior approval.
On 19 July 2022, Telenet and Fluvius announced an agreement to jointly build the network of the future. To this end, both parties intend to establish a new infrastructure company (working name 'NetCo').
This project must now be notified to the European Commission. Due to this notification, the parties expect that the actual launch of NetCo will not take place early next year (as earlier communicated) but rather by the summer of 2023, as soon as the Commission’s clearance is granted.
Telenet and Fluvius will give their full and constructive cooperation in the context of this notification.