Belgacom curbs acquisition spending plans

20 Nov 2008

According to Forbes, Belgian incumbent Belgacom will reduce the amount it had set aside for potential acquisitions amid scarce credit due to the global economic crisis. Having previously indicated that it would spend between EUR4 billion-EUR5 billion (USD5.1 billion-USD6.3 billion) on acquisitions, Belgacom CEO Didier Bellens is reported to have said, ‘The four to five billion; just forget about it.’ No financial plans have been revealed following the announcement but the operator has confirmed it is still mulling possible targets, with Mr Bellens adding, ‘There are some opportunities, as we all know.’

Belgium, Proximus