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Broadband

Nethys approves spin-off of energy grid as separate company

Wednesday 16 May 2018 | 16:11 CET | News

Nethys, the Belgian company that controls cable operator Voo, has approved a plan to spin off its electricity and gas grid Resa as an independent company. If approved by Nethys's public shareholders, the company would become more focused on its telecom and media activities, which also include the premium TV provider BeTV and the newspaper group L'Avenir. 

The decision by the Nethys board follows a resolution passed by the Wallonia regional parliament earlier this month on a broader restructuring of the local energy networks. The spin-off is expected to pave the way for Resa to merge with the other major energy grid in Wallonia, Ores, reports La Libre Belgique. 

The restructuring follows a major scandal last year over the management of Nethys and its holding company Publifin, which are controlled by the Liege province government and several other Belgian municipalities. Since then, both Orange Belgium and Telenet have expressed interest in buying the Voo cable business of Nethys. 



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Categories: Fixed
Companies: Orange Belgium / Telenet / Voo
Countries: Belgium
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