Proximus hits new record low as competitor DiGi enters market

Proximus NV

11/12/2024 13:14

** Shares in Proximus  PROX.BR  fall 7% to its lowest ever,
with analysts pointing to Romanian-based DiGi  DIGI.BX 
launching its fixed and mobile services in the Belgian telecom
market
    ** DiGi "most likely will offer steep discounts to current
average price levels, potentially disrupting the market," ODDO
BHF analyst Konrad Zomer says 
    ** This is likely to lead to margin pressure in the Belgian
telecom market and Proximus is also likely to feel some impact,
Zomer adds
   ** BNP Paribas analyst Ayesha Mansoor also attributes the
share price drop to the announcement of DiGi's pricing
   ** If losses hold, Proximus shares are on track for their
worst day since July, when it closed 11.3% lower

 (Reporting by Anna Peverieri)
 ((Anna.peverieri@thomsonreuters.com))