Eurofiber has agreed to sell its 50.01% stake in Unifiber to Proximus, valuing the stake at €75m (enterprise value about €560m).
Unifiber is a joint venture set up for the rollout of Fiber to the Home (FTTH) in Wallonia, with the stated rollout progressing according to plan. The venture is described as having about 230,000 homes and businesses connected, with more than 300,000 premises covered (homes passed).
How the Unifiber JV was built for Wallonia FTTH
Unifiber was founded in 2021 by Eurofiber and Proximus, and was created to accelerate FTTH rollout in mid-sized urban areas in Wallonia. From the start, Eurofiber’s role was to support the development of a high-quality open fiber network to the home, with the intent to transfer its stake later.
Why Eurofiber is handing the stake to Proximus
Eurofiber says it considers this the right moment to complete the transition because the network rollout is far along and Unifiber is performing strongly. Eurofiber also says the transaction enables it to sharpen its strategic focus on core activities of delivering B2B digital infrastructure services in Europe, including Belgium.
Open-access continuity after the sale
Eurofiber says it will continue providing connectivity services to its customers via Unifiber’s network after the sale, and will ensure continuity for business customers and partners. It also states the open-access nature of the network will remain unchanged, so service providers can continue benefiting from the infrastructure.