Belgium: Xavier Niel acquires 6% stake in Belgian telco Proximus

Nov 15, 2023 | Posted by Abdul-Rahman Oladimeji

Xavier Niel, the founder of French telecoms company Iliad, has acquired a six percent stake in Belgian telco Proximus through his holding company Carraun.The Belgian government has a majority stake of 53.51% in this telco, while the company holds 4.59 percent of its share capital.

Niel said, "We have built a pan-European telecom group over the past decade always focusing on providing our customers with best value for money and relying on high-quality mobile and fixed network infrastructure. I have been attracted by the Belgian market for a long time with its strong economy and where a sound regulatory approach has led to a vibrant telecom sector, as demonstrated in the recently discussed FTTH co-investment plan. I am very pleased that we now have the opportunity to invest in Proximus and hopefully create ties for the long-term."

Niel, a telco investor, is Millicom International Cellular's (MIC) biggest investor, as he increased his stake in the Luxembourg-based telco earlier this year. He also obtained a 2.5 percent stake in Vodafone Group last year, rumored to be worth $850 million.

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