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Proximus is buying its partner EQT Infrastructure from the Fiber Ready Joint Venture. In this way, the telecommunications provider wants to gain more autonomy and flexibility for the
Proximus is buying its partner EQT Infrastructure from the Fiber Ready Joint Venture. In this way, the telecommunications provider wants to gain more autonomy and flexibility for the fiber optic expansion.
Proximus becomes sole owner of FiberReady. The telecommunications provider is buying up EQT Infrastructure. Proximus and the Swedish EQT Infrastructure founded the joint venture in early 2021 with the intention of supplying 1.5 million Flemish households with fiber optic over a period of seven years. Proximus owned 49.67 shares in Fiberklare and is now buying the rest for 246 million euros.
Proximus says it wants to ensure more autonomy and more flexibility in the fiber optic rollout in Flanders. Veder expects the provider to find synergies to optimize certain issues. This seems logical, as Proximus is now 100 percent responsible for the fiber optic rollout both in its own name and via FiberReady.
However, it is intended that Fiberklare will remain an independent entity, albeit within the Proximus Group. The current management team will remain at the helm. The acquisition is expected to be completed in the coming days.
“Over the past three years, FiberReady has grown from a start-up into a powerful driver of fiber optic rollout with the full support of EQT Infrastructure and Proximus,” says Guillaume Boutin, CEO of Proximus. “As sole shareholder of Fiberklare, we will be able to work more closely together and further increase the efficiency and quality of fiber optic rollout in Flanders, while leveraging the value created by synergies.”
Boutin will be able to oversee this collaboration with the brand new subsidiary for some time to come. The Proximus Board of Directors has just extended his mandate for six years.
Source: IT Daily
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