Enodia board approves sale of VOO to Orange Belgium

15 Dec 2021

Enodia’s board gave its approval on Tuesday to the proposed sale of a 75% stake less one share in cable operator VOO to Orange Belgium, the company has announced. In a press release Enodia, the public holding company that owns VOO shareholder Nethys, said it was pleased ‘with this first important step’ and indicated that it would communicate on the operation ‘once binding contracts have been signed between Orange Belgium and Nethys, i.e. in the coming weeks’.

Wallonian utility firm Nethys and Orange Belgium confirmed in late November that they were entering into exclusive negotiations regarding the Orange Group subsidiary’s acquisition of a majority stake in VOO, based on an enterprise value of EUR1.8 billion (USD2.03 billion) for 100% of the capital. Orange hopes the acquisition of VOO’s high speed broadband network in Wallonia and areas of Brussels will ‘consolidate the implementation of its convergent strategy at a national level’.

Belgium, Orange Belgium, VOO