Eir parent company acquires 6% stake in Belgian peer Proximus

Carraun, the parent company behind Irish telecoms company Eir, has acquired a 6 per cent stake in Belgian peer Proximus.

Carraun described Proximus, which is majority State owned, as “the undisputed domestic leader in fixed and mobile”. It also said Proximus has developed a successful international business via its affiliates BICS and Telesign.

Carraun is controlled by French businessman Xavier Niel who said he was pleased with the opportunity to invest in the company. Affiliates of Mr Niel control 65 per cent of Carraun.

“We have built a pan-European telecom group over the past decade always focusing on providing our customers with best value for money and relying on high quality mobile and fixed network infrastructure,” he said.

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“I have been attracted by the Belgian market for a long time with its strong economy and where a sound regulatory approach has led to a vibrant telecom sector, as demonstrated in the recently discussed fibre to the home co-investment plan. I am very pleased that we now have the opportunity to invest in Proximus and hopefully create ties for the long-term.

“Proximus is an iconic operator whose history is closely associated with Belgium. Over the years, Proximus has managed to adapt to a rapidly changing telecom environment and remain the national leader.”