Belgian incumbent Belgacom has received approval from the French competition authorities to sell ICT business Group Telindus France to conglomerate Vivendi for €95m (US$131.12m), allowing it to close the transaction.
The parties entered exclusive…
Belgian incumbent Belgacom has received approval from the French competition authorities to sell ICT business Group Telindus France to conglomerate Vivendi for €95m (US$131.12m), allowing it to close the transaction.
The parties entered exclusive negotiations on the deal, which includes only Telindus’ French assets, in mid-February and signed an agreement at the end of March.
Belgacom acquired Telindus – also present in Belgium, Luxembourg, the Netherlands and the UK – in 2006 for about €600m following a heated battle with French incumbent Orange.
Groupe Telindus France generated pro-forma revenues of €241m and EBITA of €11m in 2013.
Meanwhile, Vivendi is in the process of selling its French mobile player SFR to telecoms holding Altice for €13.5bn in cash. It is also close to completing its sale of Maroc Telecom to Etisalat for €4.2bn.