Proximus is acquiring Eurofiber’s entire stake in Unifiber for 75 million euros. This makes Proximus the sole owner of the fiber-to-the-home network in Wallonia.
Proximus has reached an agreement with Eurofiber to acquire its 50.01 percent stake in Unifiber. This joint venture was established for the rollout of fiber-to-the-home in Wallonia. The deal values the stake at 75 million euros and implies an enterprise value of approximately 560 million euros for Unifiber. With this move, Proximus aims to strengthen its position in the Belgian fiber market and accelerate the rollout of fiber optics.
Fiber-to-the-home in Wallonia
Through the acquisition, Proximus increases its ownership of the fiber-to-the-home network in Wallonia. Unifiber will continue to operate as an independent entity within the group and will continue to serve wholesale customers via an open network model. The network currently serves over 300,000 homes and businesses, of which 230,000 are connectable. The primary user of the network remains Proximus itself.
Recently, a Memorandum of Understanding was signed between Proximus and Orange Belgium, with the intention of allowing Orange Belgium customers onto the Unifiber network. This is intended to further optimize network usage, although implementation is still subject to regulatory approval.
More control
The 75 million euro investment accelerates Proximus’s control over digital infrastructure. Until now, Unifiber was funded through bank loans, capital injections, and a convertible bond. Thanks to the acquisition, Proximus can now fully manage the remaining rollout and financing itself.