Eltrona, a cable company from Luxembourg, has acquired SFR-Coditel’s operations in the country from Telenet. The Post Luxembourg group has also sold its 34 percent stake in Eltrona to Telenet. Telenet and Eltrona plan to now start a joint venture under the Eltrona brand, with operations covering all of Luxembourg.
Under the deal, shares will be issued to Telenet, which will own 50 percent minus 1 share of the merged entity, with Eltrona holding the majority 50 percent, with 1 share extra. The SFR brand will disappear from end June, replaced by the Eltrona brand. After a migration and integration phase, the new entity will provide a new and homogeneous range of telecom services.
The merger is expected to complete over the coming weeks. The companies hope to start operating the joint venture at the start of April.
