Telenet receives approval from the Belgian Competition Authority for the acquisition of Coditel Brabant SPRL and Coditel S.à r.l. (SFR BeLux)
Brussels — The Belgian Competition Authority (BCA) today approved the planned takeover of Coditel Brabant SPRL and its subsidiary Coditel S.à r.l. (together, “SFR BeLux”) by Telenet Group BVBA. Under the brand name SFR (formerly Numéricable), SFR BeLux provides cable and mobile telephony services to families and companies in Brussels, Wallonia and the Grand Duchy of Luxembourg. Now that the BCA has approval the transaction, the acquisition can be finalized over the coming days.
On 22 December 2016, Telenet Group Holding NV (“Telenet” or the “Company”) announced that it has concluded a definitive agreement to acquire Coditel Brabant SPRL and its subsidiary Coditel S.à r.l. from Coditel Holding S.A., a subsidiary of Altice N.V., for € 400 million, on a cash-free debt-free basis. The Belgian Competition Authority was notified of the transaction by Telenet on March 21st 2017.
The BCA has approved the transaction subject to conditions intended to ensure that Orange will have access to SFR’s cable network. Telenet has in particular committed that Orange will be able to access SFR’s cable network within four months of completion of the transaction, and this at wholesale prices comparable to those applicable in the Flanders.
As a result of this acquisition, Telenet will become the owner of an additional fixed cable network in parts of Brussels[1], Wallonia[2] and the Grand Duchy of Luxembourg (the "SFR BeLux" footprint). In Brussels, Telenet will be able to expand its coverage to two thirds of municipalities, making it the largest cable operator in the Capital.
In the coming days, Telenet will finalize the transaction. The first priority after closing of the transaction will be to improve the quality of the network and customer service, to bring it to the high level of quality that Telenet is known for in Flanders.
John Porter, CEO Telenet: "We are very pleased that we have received the green light from the Belgian Competition Authority today. After closing of the takeover, we will also be able to do in Brussels, parts of Wallonia and the Grand Duchy of Luxembourg what we are so good at in Flanders: providing high quality telecom and media products so that our customers are ready for the digital future. Our DNA has a strong customer focus and a drive towards permanent innovation. And that’s what we also want to show in the SFR BeLux area. At the same time, we can grow as a company and take a further step towards becoming a truly national player."
About Telenet – As a provider of entertainment and telecommunication services in Belgium, Telenet Group is always looking for the perfect experience in the digital world for its customers. Under the brand name Telenet, the company focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers in Flanders and Brussels. Under the brand name BASE, it supplies mobile telephony in Belgium. The Telenet Business department serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. More than 3,000 employees have one aim in mind: making living and working easier and more pleasant. Telenet Group is part of Telenet Group Holding NV and is quoted on Euronext Brussel under ticker symbol TNET. For more information, visit www.telenet.be. Telenet is 57% owned by Liberty Global - the world's largest international TV and broadband company, investing, innovating and empowering people in more than 30 countries across Europe, Latin America and the Caribbean to make the most of the digital revolution.
[1] Telenet is already active in seven municipalities of the Brussels Capital Region (Schaarbeek, Etterbeek, Koekelberg, Sint-Agatha-Berchem, Ganshoren, Jette and Vorst) and will now expand its activities to six new municipalities (Sint-Joost-ten-node, Brussels City, Watermaal-Bosvoorde, Sint-Lambrechts-Woluwe, Anderlecht and Sint-Jans-Molenbeek) and to two new municipalities in Flanders (Wemmel and Drogenbos).
[2] In Wallonia, the takeover will expand the coverage of Telenet to seven new municipalities (Chimay, Couvin, Sivry-Rance, Momignies, Erquelinnes, Beaumont and Froidchappelle in the "boot of Hainaut"). The takeover also includes several thousand mobile customers of SFR BeLux in Belgium who use the BASE network.