Belgian conglomerate Nethys has created a new public company for its telecom activities, Voo SA. The new structure for the business was approved by shareholders at an extraordinary meeting, L'Echo reports. The activities were valued at EUR 623 million.
Nethys separated its cable and telecom activities from its media and energy business a year ago, creating two new companies. Newco 2, grouping the cable network and telecom business, is now called Voo SA. According to L'Echo, the new company only includes its network assets, including the link with Brussels operator Brutele and pay-TV provider BeTV, but not services such as mobile and internet access.
The new structure is seen as the latest step to preparing Voo for a possible sale. According to the report, Nethys' parent company Enodia is also progressing in talks to acquire Brutele from its municipal owners. The Brussels network could then be fully integrated in Voo. A source familiar with the matter said the companies hope to reach agreement on a deal by the end of August.
