• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Wednesday, January 27, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home News

Vodafone leaves Belgium after selling Proximus stake to Belgacom

by Sam Allcock
14/06/2017

RelatedPosts

Padrós Asks To Allocate Non Essential Budget Items

When Is a Bill Collector Crossing a Line?

10 Most Profitable Investment Funds

Business Insolvencies Increased 13% In December

Load More

LONDON – UK’s mobile telecoms giant Vodafone has decided to part ways with its 25 percent stake in Belgian company Proximus. The world’s largest mobile phone operator has agreed to sell Proximus to Belgacom for €2 billion in cash.

Belgacom already owns 75 percent of the group and will now assume full ownership. “We have enjoyed a long and successful relationship with Belgacom, and together have built the leading mobile operator in Belgium. We do not, however, see ourselves as the most appropriate long-term holder of this minority stake,” said Vodafone chief executive Arun Sarin. “In line with our strategy of actively managing our portfolio and maximizing returns, we have achieved an attractive price with this sale.”

Belgium’s top mobile operator, Belgacom also announced that it had agreed to sell 5.8 percent stake in Neuf Cegetel to French media group Vivendi’s. “The group now has all the necessary assets to address the current market evolutions, while maintaining its leadership position in Belgium,” commented Belgacom Chief Executive Officer Didier Bellens.

The sale of the Belgian business is another blow for Vodafone, which has been forced to withdraw from many international markets. In January, Vodafone exited Sweden and in April sold off its Japanese business. Chief executive Arun Sarin has faced increased pressure to deliver results. But for the present sale, he said the company would not receive anticipated dividend income of £150 million from Proximus this year. Consequently there will be a “reduction in its free cash flow outlook for the year end,” he added.

Previous Post

Identity fraud hits one in ten Brits

Next Post

Norwich Union hikes car insurance premiums by 16 percent over 12 months

Related Posts

Padrós Asks To Allocate Non Essential Budget Items
News

Padrós Asks To Allocate Non Essential Budget Items

18/01/2021
4 Benefits of Using a PEO for Your Company
News

When Is a Bill Collector Crossing a Line?

26/01/2021
10 Most Profitable Investment Funds
News

10 Most Profitable Investment Funds

18/01/2021
Next Post

Norwich Union hikes car insurance premiums by 16 percent over 12 months

Standard Life to part ways with Alison Reed

Standard Life to part ways with Alison Reed

Britons have highest debts in western Europe, says study

Britons have highest debts in western Europe, says study

Latest News

Five Crucial Tips to Crack any Insurance Exam in First Attempt

Five Crucial Tips to Crack any Insurance Exam in First Attempt

27/01/2021
It’s Always Good To Have Options

It’s Always Good To Have Options

27/01/2021
Padrós Asks To Allocate Non Essential Budget Items

Padrós Asks To Allocate Non Essential Budget Items

18/01/2021
How Staying Connected to Electrical Installations Enables Greater Business Efficiency?

How Staying Connected to Electrical Installations Enables Greater Business Efficiency?

27/01/2021
TOP ONLINE RETAILERS

TOP ONLINE RETAILERS

27/01/2021
IN-DEPTH REVIEW OF STELLAR PHOTO RECOVERY SOFTWARE

IN-DEPTH REVIEW OF STELLAR PHOTO RECOVERY SOFTWARE

27/01/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.