Mergers and Acquistions News
Categories: Telecoms
November 10th 2008, 15:57PM
Belgacom's acquisition of Scarlet has received regulatory approval.
The Belgian Competition Council agreed that the country's national telecom firm's €185 million (£150 million) move for its rival can go ahead.
However, concerns that the move would prove to be an obstacle in the Belgian broadband market means that certain conditions have been attached to the move.
Following the takeover, Begacom must divest Scarlet's fibre-optic network and cap prices for broadband internet services, Bloomberg reported.
The network could be sold to one or more firms, while Scarlet clients are to be permitted to find other phone providers to meet their needs.
According to Belgamcom, the deal should be completed by the end of the month.
Scarlet was founded in 1992 and offers services to a range of countries including the Netherlands, Belgium and the Dutch Antilles.
Its expansion has in part been down its own takeovers.
Belgacom posted an operating profit of more than €2 billion in the year to December 31st 2007.
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