Belgian budget minister downplays likelihood of Belgacom majority stake sale

16 Sep 2013

Belgium’s government is unlikely to divest its majority stake in the country’s fixed line incumbent operator Belgacom. According to the Wall Street Journal, which cites an interview with Belgian budget minister Olivier Chastel with local newspaper Le Soir, the state considers the holding in Belgacom to be important. To that end, the executive noted: ‘We need to keep our strategic stakes – they’re very important … and having a majority in Belgacom is strategic.’

The comments by the minister follow on from suggestions at the end of August 2013 that the government could reduce its holding in Belgacom from 53.51% to just over 50%. At that date local press citing government sources claimed that such a stake sale could generate around EUR215 million (USD284 million) for government coffers.

Belgium, Proximus