Proximus rises after French billionaire acquires stake
14/11/2023 10:26
(Adds confirmation of the deal and milestone)
** Shares in Proximus PROX.BR are up 5.6% after French
tycoon Xavier Niel acquired a 6% stake in the Belgian telecoms
group
** The French billionaire's holding, Carraun, confirmed the
acquisition
** Three analysts linked the share reaction to the news
** Niel's Iliad group and Proximus did not immediately
respond to Reuters' request for comment
** "People are gradually realising that Proximus investment
case is much more interesting than before after years of (over)
investing in fiber," Degroof analyst Petercam Kris Kippers says
** "Now that the Belgian regulator has made clear that telco
operators could cooperate probably for the rollout, the risk of
over-investing in the Belgian market has become much more
limited and a re-rating would be in the cards," Kippers adds
** The Proximus stock is on track for best day since March
(Reporting by Victor Goury-Laffont)
((Victor.goury-laffont@tr.com))