Belgacom sells Telindus France to Vivendi for €95 million

Belgian telco Belgacom has agreed to divest 100% of the shares in IT services company Telindus France in a deal with Vivendi worth €95 million.

Belgacom is shedding the asset for €95 million on a cash and debt free basis, with the binding agreement reached with Vivendi following exclusive talks between the firms in February.

Belgacom said that Groupe Telindus France generated pro-forma revenues of €241 million and EBITDA of €11 million in 2013.

The deal is subject to approval by the French Competition Authorities.