Belgacom ready for public share offer

20th February 2004, Comments 0 comments

20 February 2004, BRUSSELS – Belgium’s state-backed telecoms operator Belgacom is ready to sell shares to the general public if it gets the go-ahead from its existing shareholders, the company said on Friday.

20 February 2004

BRUSSELS – Belgium’s state-backed telecoms operator Belgacom is ready to sell shares to the general public if it gets the go-ahead from its existing shareholders, the company said on Friday.

Belgacom made the widely expected announcement that it is readying itself for what financial experts call an ‘Initial Public Offering’ (IPO) after a board meeting at its Brussels headquarters on Friday morning.

“At the appropriate time, if an IPO is to take place and at the time when that will happen, appropriate announcements will be made,” the firm said.

Belgacom is one of Europe’s last remaining former phone monopolies to sell shares to the public.

If the firm does go ahead with a public share offer, the IPO could be the largest in Europe since France Telecom sold a EUR 6.3 billion-share in mobile phone operator Orange in 2001.

According to Flemish newspaper ‘De Standard’ Belgacom shares could be up for sale on the Euronext stock exchange as early as next month.

Analysts say Belgacom shares are likely to prove extremely popular if and when they go on sale to the general public.

“This isn’t some unknown little internet company that no one’s ever heard of,” said one expert quoted by Francophone Belgian newspaper La Libre Belgique.


[Copyright Expatica News 2004]

Subject: Belgian news

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