Press release: Orange Belgium completes the acquisition of a 75% stake minus 1 share in telco operator VOO SA
Paris, 2 June 2023
Orange Belgium completes the acquisition of a 75% stake minus 1 share in telco operator VOO SA
Orange announces today that Orange Belgium has completed its acquisition of a controlling stake in telco operator, VOO SA. The closing of this deal will give Orange Belgium a 75% stake minus 1 share in VOO SA, with the remaining 25% plus one share retained by Nethys.
This transaction values VOO at an enterprise value of €1.8 billion for 100% of the capital. Orange Belgium will finance this transaction through an intra-Group loan.
Xavier Pichon, CEO of Orange Belgium, comments: “For decades, we developed our telecom skills and pioneering spirit to challenge the market, but as from today, we have the industrial power, tech means and commercial scale to accelerate and Lead the Future of the Belgian telco market in the interest of all consumers, employees and society in general.”
Mari-Noëlle Jégo-Laveissière, CEO Orange Europe, commented: “Today’s closing of our acquisition of VOO marks an important milestone - emboldening our convergence ambitions in Belgium. Convergence in Europe has proven to be key to our leadership in Europe and demonstrates how Orange’s new strategy, Lead the Future, will continue to meet the digital needs that our customers in Europe demand”.
Orange is one of the world’s leading telecommunications operators with revenues of 43.5 billion euros in 2022 and 136,000 employees worldwide at 31 March 2023, including 74,000 employees in France. The Group has a total customer base of 288 million customers worldwide at 31 March 2023, including 243 million mobile customers and 24 million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
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Tom Wright; Orange group; email@example.com; +33 6 78 91 35 11
Vanessa Clarke; Orange group; firstname.lastname@example.org; +44 7818 848 848
Annelore Marynissen; Orange Belgium; email@example.com; +32 (0)479 016 058
Sven Adams; Orange Belgium; firstname.lastname@example.org; +32 (0)486 36 47 22