Brussels, Tuesday June 13^th 2017 - The Belgian Competition Authority (BCA) today approved the planned takeover of Coditel Brabant SPRL and its subsidiary Coditel S.à r.l. (together, "SFR BeLux") by Telenet Group BVBA. Under the brand name SFR (formerly Numéricable), SFR BeLux provides cable and mobile telephony services to families and companies in Brussels, Wallonia and the Grand Duchy of Luxembourg. Now that the BCA has approval the transaction, the acquisition can be finalized over the coming days.

On 22 December 2016, Telenet Group Holding NV ("Telenet" or the "Company") announced that it has concluded a definitive agreement to acquire Coditel Brabant SPRL and its subsidiary Coditel S.à r.l. from Coditel Holding S.A., a subsidiary of Altice N.V., for € 400 million, on a cash-free debt-free basis. The Belgian Competition Authority was notified of the transaction by Telenet on March 21^st 2017.

The BCA has approved the transaction subject to conditions intended to ensure that Orange will have access to SFR`s cable network. Telenet has in particular committed that Orange will be able to access SFR`s cable network within four months of completion of the transaction, and this at wholesale prices comparable to those applicable in the Flanders.

As a result of this acquisition, Telenet will become the owner of an additional fixed cable network in parts of Brussels^[1], Wallonia^[2] and the Grand Duchy of Luxembourg (the "SFR BeLux" footprint). In Brussels, Telenet will be able to expand its coverage to two thirds of municipalities, making it the largest cable operator in the Capital.

In the coming days, Telenet will finalize the transaction. The first priority after closing of the transaction will be to improve the quality of the network and customer service, to bring it to the high level of quality that Telenet is known for in Flanders.

John Porter, CEO Telenet: "We are very pleased that we have received the green light from the Belgian Competition Authority today. After closing of the takeover, we will also be able to do in Brussels, parts of Wallonia and the Grand Duchy of Luxembourg what we are so good at in Flanders: providing high quality telecom and media products so that our customers are ready for the digital future. Our DNA has a strong customer focus and a drive towards permanent innovation. And that`s what we also want to show in the SFR BeLux area. At the same time, we can grow as a company and take a further step towards becoming a truly national player."

Press contact

Isabelle Geeraerts

Spokesperson Telenet