Belgian incumbent Belgacom has agreed to sell ICT business Groupe Telindus France to French media and telecoms group Vivendi for €95m (US$131.12m) on a cash and debt free basis.
The parties entered exclusive negotiations on the deal, which includes…
Belgian incumbent Belgacom has agreed to sell ICT business Groupe Telindus France to French media and telecoms group Vivendi for €95m (US$131.12m) on a cash and debt free basis.
The parties entered exclusive negotiations on the deal, which includes only Telindus’ French assets, in mid-February. Completion is subject to the approval of French competition authorities.
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 (then France Telecom).
Groupe Telindus France generated pro-forma revenues of €241m and EBITA of €11m in 2013, Belgacom said in its statement today.