Telenet completes BASE acquisition

Liberty Global-owned Telenet has completed the acquisition of mobile operator BASE Company and the sale of the latter’s 50% stake in VikingCo to Medialaan.

The transactions were finalised following approval by the Belgian competition regulator and the EC on January 28 and February 4 respectively.

The sale of the stake in VikingCo was a condition set by the EC for approval. The company will now operate as a ‘light’ MVNO on the BASE network.

The €1.3 billion acquisition has been financed through a combination of existing cash and cash equivalents, and committed loans.

Last year Telenet also signed an agreement with MEDIALAAN to transfer the entire customer base of mobile brand JIM Mobile to Medialaan, at the latest within two years. The two deals will enable Medialaan to become a full MVNO on BASE’s network.