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Telenet set to snap up Altice’s operations in Belgium, Luxembourg

Telecommunications company Telenet has agreed to acquire rival Altice’s businesses in Belgium and Luxembourg for €400m ($418m).

The deal is expected to receive approval from the Belgian regulators “within a few months,” Telenet said.

Telenet operates pay-television services and has rights to various sports properties, such as the Formula One motor-racing world championship under a new three-year deal, from 2017 to 2019.

The acquisition of the two businesses – named SFR BeLux – will allow Telenet to extend its pay-television operations in Brussels and a part of Wallonia.

Altice, which has strengthened its sports offering across several of its broadcasters in multiple territories in the past year, is focusing on its larger operations in France and the US, where it is considering floating its Altice USA subsidiary on the stock market, according to the Reuters news agency.