Proximus: EU clears creation of a JV
(CercleFinance.com) - Under EU merger regulations the European Commission has cleared the creation of a joint venture by Proximus and Ethias, both of which are Belgian.
The joint venture, Glasfaser Ostbelgien - GO Fiber, will deploy and operate a fiber-to-the-home network throughout the German-speaking Community of Belgium.
Proximus is active in fixed and mobile electronic communication services and networks for residential and business customers in Belgium, while Ethias is a life and non-life insurance company, mainly operating in Belgium.
The Commission concluded that the proposed acquisition would not give rise to any competition concerns as the joint venture's revenues and assets will remain limited in the European Economic Area.
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