Telenet Fluvius partnership to be notified to European Commission
Today, Telenet BV, a wholly owned indirect subsidiary of Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) and Fluvius System Operator CV ("Fluvius") have been informed that their agreement to collaborate to build the network of the future in Flanders and parts of Brussels will have to be notified to the European Commission's DirectorateGeneral for Competition as it falls within the scope of EU Merger Regulation and so requires prior approval.
On 19 July 2022, Telenet and Fluvius announced an agreement to jointly build the network of the future. To this end, both parties intend to establish a new infrastructure company (working name 'NetCo').
This project must now be notified to the European Commission. Due to this notification, the parties expect that the actual launch of NetCo will not take place early next year (as earlier communicated) but rather by the summer of 2023, as soon as the Commission’s clearance is granted.
Telenet and Fluvius will give their full and constructive cooperation in the context of this notification.
Fluvius is the network operator created on 1 July 2018 by the merger of Eandis and Infrax. Fluvius is responsible for the construction, management and maintenance of electricity and natural gas distribution grids, sewerage, cable distribution and heat. The company also manages the municipal public lighting system. In total, Fluvius manages 230,000 kilometres of utility networks and 7 million connections. Fluvius is active in all 300 Flemish cities and municipalities.