Carraun, the parent company of Eir, has confirmed that it holds an approximately 6% interest in Proximus, one of Belgium's largest network operators.
Carraun is making the investment in Proximus to get exposure to the Belgian leader in connectivity. It has a deep understanding of Proximus business and is currently pursuing a strategy similar to Proximus with a relentless focus on offering best value for money to its customers, hiring and retaining top quality management and employees, and investing billions in 5G and FTTH networks.
Xavier Niel, who made the investment decision under Carraun, is responsible for building the company's portfolio in the telecoms industry, with a presence in nine European countries, nearly 50 million subscribers and combined revenues of over €10 billion. Niel is constantly looking to strengthen its European base and sees Proximus as a very attractive and long-term investment.
Carraun is supportive of the current strategy of Proximus top management, and in particular its ambitious FTTH roll-out plan. Carraun is willing to cooperate with Proximus management and is looking forward to building a mutually beneficial partnership, with the ambition to favor value creation for both companies and economic development for both Belgium and Ireland.
Xavier Niel
We have built a pan-European telecom group over the past decade always focussing on providing our customers with best value for money and relying on high quality mobile and fixed network infrastructure. 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 FTTH 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. It would be an honour if we could contribute as a long-term partner to the future evolution of Proximus.
