Telenet acquires mobile retail outfit

Belgian cable operator Telenet has acquired mobile telecom retail group BelCompany. BelCompany is the second largest independent supplier of mobile telecom and related products in the country, with stores located in all medium-sized and large cities.

The deal, which will be completed on June 30, will not include BelCompany’s 15 Discovery Stores.

Telenet CEO Duco Sickhinghe said the deal “offers Telenet the possibility on the one hand to make its mobile offering more widely available and on the other hand to develop an improved service offering for its existing products.” He said the deal would not have a material impact on Telenet’s results for the year.

Telenet has amended its 2007 €2.3bn credit facility to split an undrawn term loan facility of €225m into two facilities comprising a term loan facility of €135m available up to June next year and a €90m facility that will be drawn at the end of this month.

Separately, Telenet has revealed that it will not pursue the takeover of a contact centre in Geel that it had earlier announced. The company said it would continue to develop its own call centre activities.