Nethys to convert stake in telecoms company VOO into Orange Belgium shares

FILE PHOTO: The logo of French telecom operator Orange in Brussels·Reuters
Reuters
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BRUSSELS (Reuters) - Telecoms and energy company Nethys will convert its stake in Belgium telecoms firm VOO into shares in Orange Belgium, resulting in Nethys holding an 11% stake in Orange Belgium, said Orange Belgium on Tuesday.

The planned transaction forms part of an earlier process that resulted in Orange Belgium, which is a unit of France's biggest telecoms company Orange, complete the acquisition of a majority stake in VOO.

Orange's acquisition of the majority stake in VOO, which had valued VOO at 1.8 billion euros ($1.96 billion), gave the company control over the cable network in Belgium's French speaking Wallonia region and part of the Brussels area.

($1 = 0.9168 euros)

(Reporting by Sudip Kar-Gupta; Editing by Christopher Cushing and Muralikumar Anantharaman)