Belgian Government Thwarts French Billionaire’s Proximus Takeover Attempt
Brussels, Belgium – A bold attempt by French billionaire Xavier Niel to acquire a controlling stake in Proximus, Belgium’s leading telecommunications operator, has been firmly rejected by the Belgian government, according to documents reviewed by Litter.
Niel’s plan centered around a shareholders’ pact with the SFPIM, the Belgian state holding company which currently owns 53.51% of proximus. The proposal stipulated that the SFPIM would retain its majority shareholding, initially, with a potential for future reduction, granting Niel a right of pre-emption on those shares.
the proposed agreement outlined a division of power, with the SFPIM retaining the right to appoint the President of Proximus, while Niel’s holding company would select the CEO. crucially, niel’s team aimed to implement a significant “recalibrage” – a restructuring – of the company designed to maximize cash generation.
However, the government response was overwhelmingly negative. A source close to the government described the proposal as “a nice way to try to pull off a hold-up on the company.” This strong condemnation effectively halted the bid.
The future remains uncertain, with speculation that Niel may attempt to discreetly increase his stake in Proximus. Though, strong opposition from the N-VA and other flemish parties within the governing coalition suggests that allowing a major Belgian company to fall under French control is unlikely.
| Shareholder | Percentage |
|---|---|
| SFPIM (Belgian State) | 53.51% |
| Institutional Investors | ~30% |
| Retail Investors | ~16.49% |
This is a developing story with significant implications for the Belgian telecommunications landscape. What are your thoughts on foreign investment in critical national infrastructure? I’d love to hear your perspective in the comments below! And if you found this article insightful, please consider sharing it with your network, or subscribing to World Today News for more in-depth coverage of global events.
