Orange challenges sale of VOO

0
15


The telecom group is requesting the annulment of the sale of the Walloon cable operator VOO to the Providence investment fund.

Orange Belgium

has initiated summary proceedings against Nethys and OTP Luxco, which represents the interests of the Providence investment fund.

It wants the sale to be declared void and requires the appointment of a legal expert to clarify the circumstances and modalities of the sale of VOO to Providence.

Orange Belgium believes that the course of the sales procedure “raises legitimate questions, related to the level of the original price, the conditions for profit sharing for former management and the lack of competition between the bidders.”

Not Telenet

Telenet too

, Which also aimed at VOO, criticizes the sale procedure. “Everyone has seen that there was no sales process,” CEO John Porter said in an interview with De Tijd last week. “The sellers deliberately kept us out.”

But unlike Orange Belgium, the cable company is not challenging the sale to Providence. ‘You can’t sue city hall. We have completely left it behind us. It’s done. ”

Porter chooses instead to tighten the ties with VOO. ‘We look forward to Providence’s ambitions. We are already working with VOO today. It uses our mobile network. We work together for video and we share TV rights. We believe that we can constructively extend that line. Then we can do smart business together to give our customers more products. ”

Secret deal

In May, just before the elections, Nethys, under the leadership of controversial St├ęphane Moreau, a former PS mayor, had made a secret deal with US private equity group Providence to get rid of 51 percent of VOO.

The commotion about the circumstances of the sale led to the Walloon government canceling the sale. At the end of December, Enodia, the dome above Nethys, decided to start final negotiations with Providence.



Source link
https://www.tijd.be/ondernemen/telecom/orange-vecht-verkoop-voo-aan/10209846.html

LEAVE A REPLY

Please enter your comment!
Please enter your name here