In 2020, our team assisted Telenet on the acquisition of 34% of Luxembourg major cable company Eltrona, from POST. We were also involved in the joint venture aspects that occurred soon thereafter: Eltrona and Coditel, the Luxembourg subsidiary of Telenet, merged their activities in April 2020. Following the merger, Eltrona's family owners obtained 50 % +1 of the shares and Telenet 50 % -1 of the shares of the merged entity.
The past two years have witnessed the continuous growth of the said merged entity, expanding and diversifying their telecommunications services and activities (video, internet, mobile telephony), reinforcing its presence on the Luxembourg market to become one of the leading firms in the telecommunications business in Luxembourg.
Telenet is now becoming the sole shareholder of Etrona by acquiring the remaining 50 % +1 shares from the founding shareholders.
Our legal team, combining the expertise of our corporate, commercial, employment and real estate lawyers, prepared and negotiated all the relevant legal documentation and coordinated all the relevant steps to sign the transaction, which is expected to complete in January 2023.
About the parties
Telenet is a Belgian provider of entertainment and telecommunication services.
Eltrona is the largest cable operator in Luxembourg providing its services to more than 50,000 users, as well as to a number of municipalities and companies.