'Missed opportunity': Telenet slips as it drops out of VOO talks

Orange Belgium NV

23/11/2021 08:40

** Shares in Belgian telecoms firm Telenet  TNET.BR  slip
3.8% to the bottom of Belgium's blue-chip index  .BFX  after it
wasn't selected for final talks over VOO acquisition
 urn:newsml:reuters.com:*:nL8N2SD581
    ** Credit Suisse calls this "a missed opportunity" to enter
southern Belgium with big synergies, where Proximus  PROX.BR  
is the strongest on fixed offer 
    ** "Disappointing but on upside greater strategic clarity
and potential for conserved cash to be returned to
shareholders," CS adds
    ** Orange Belgium  OBEL.BR  entered into talks to buy a
majority stake in VOO, valuing it at 1.8 billion euros ($2
billion) on EV basis  urn:newsml:reuters.com:*:nASN001X25
    ** "A potential acquisition of VOO by Orange Belgium could
reshape the Belgian telco landscape making the former
mobile-only operator a worthy adversary for the two leaders in
the fixed and convergent market," KBC Securities says
    ** KBC adds that it's a setback for Telenet as it has been
eyeing VOO as long as it has been the market leader in Flanders
    ** Shares in Orange Belgium inch 1.2% higher 
    
    ($1 = 0.8899 euros)

 (Reporting by Piotr Lipinski)
 ((piotr.lipinski@tr.com))