Regulator approves Belgacom IPO plans

24 February 2004

BRUSSELS – Belgium’s financial regulators on Monday approved plans for the country’s state-backed telecoms operator Belgacom to sell shares to the public.

In a statement released on Monday Belgium’s banking, finance and insurance commission (CBFA) said it had approved plans for an Initial Public Offering (IPO) of Belgacom shares.

The proposal was put forward by ADSB, the international consortium that owns 50 percent minus one share of the firm’s stock.

“The [share] prospectus and additional information will be published when an offer takes place,” the statement said.

According to Flemish newspaper De Standaard, Belgacom will begin what it calls an ‘IPO roadshow’ on 8 March to publicise the forthcoming public share offer.

Most analysts believe the IPO Itself will be announced on 22 March.

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.

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

Subject: Belgian news