DPG Media group is looking to sell its Belgian telecom activities, reports De Tijd. People familiar with the matter said the MVNOs Mobile Vikings and Jim Mobile have been put up for sale.
Vikings is considered the fourth-largest mobile provider in Belgium, with over 300,000 customers. DPG acquired the company in 2015 and merged it with Jim Mobile, a MVNO set up to target the same audience as its TV and radio channels under the Jim name. Nevertheless, synergies have proven limited and the telecom business has remained a separate part of the portfolio, alongside DPG's broadcast business and print media. The company's focus has shifted more recently to expanding its digital media services.
According to De Tijd, Mobile Vikings grew revenues 30 percent in 2019 to EUR 68 million and increased its EBITDA to EUR 12 million. Further improvement is expected this year, to EBITDA of over EUR 15 million.
De Tijd suggested the Belgian mobile operators as the most likely buyers. Vikings already uses the Orange network, making it a likely candidate. A newcomer on the market also could use the acquisition to build a position before bidding in next year's spectrum auction.
Interested bidders have already sent non-binding offers to KBC Securities, which is leading the sale, the paper's sources said. DPG Media declined to comment.
