Infrastructure agreement brings FTTH to 1.5m Belgian homes

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Belgian operator, Proximus has signed a partnership agreement with the EQT Infrastructure V fund. The partnership will form a new joint venture to design, build and maintain a FTTH network in Flanders, Belgium.

The two companies identified opportunities in accelerating the build-out pace of the network in the Flemish Region of Belgium, bringing the required connectivity to Flanders so that its residents and businesses can actively participate in the Gigabit Society. 

The joint venture will benefit from the combination of EQT Infrastructure’s experience of developing fibre companies in Europe and North America, and Proximus’ expertise in the Belgian telecom market. The parties aim to efficiently build a fibre network, which will be open and accessible to all operators. The first customers will be connected next year, while the overall goal is to bring connectivity to at least 1.5 million households and businesses over the coming years. 

Matthias Fackler, partner at EQT Partners, said: ‘We are very happy to have found a strong partner in Proximus for this exciting fiber rollout opportunity in Belgium. Through this partnership, we look forward to facilitating digital inclusion and sustainable economic growth in Flanders and the Belgian society as a whole.’

Guillaume Boutin, CEO of Proximus, added: ‘I am very pleased that we have signed this final agreement with EQT Infrastructure. I’d like to congratulate the teams involved on both sides, as this agreement marks another major step forward to build the most future-proof and open network for Belgium and bring high-speed connectivity solutions to every citizen.’

The closing of the transaction is expected in the first quarter of next year. EQT Infrastructure will initially own 50.1 per cent of the venture and Proximus will hold 49.9 per cent.

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