Proximus considering sale of Be-Mobile subsidiary

11 Sep 2020

Belgian full-service telecoms operator Proximus has hired financial advisors to carry out a strategic review of options for its smart mobility subsidiary Be-Mobile, sources familiar with the matter have informed L’Echo. Proximus initially acquired a 61.02% stake in Belgian mobile parking and road toll payment app specialist Be-Mobile in 2016 and expanded the business in 2018 by buying Mediamobile, a provider of real-time traffic data for car navigation systems. The operator now holds more than 90% of the subsidiary, which generated annual revenues of around EUR40 million (USD47.3million) in 2017 and is considered a leading player in its field. A sale would provide much-needed cash for Proximus’s ambitious fibre network expansion plans.

Belgium, Proximus