Eltrona merges with SFR-Coditel in Luxembourg

Tuesday, February 25th, 2020 
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Eltrona Takes Over The Business Of Sfr-Coditel In Luxembourg, Owned By Telenet

  • An important strategic partnership

Eltrona [1], the Luxembourg cable operator, has taken over, through a merger, the business of the SFR-Coditel [2] entity in Luxembourg, owned by Telenet BV [3], a subsidiary of Telenet Group Holding NV (Euronext Brussels: TNET). This merger, accompanied by the issue of new shares in favour of Telenet, seals the strategic partnership struck between the shareholders of Eltrona and Telenet. At the same time, the Post Luxembourg group, a shareholder in Eltrona since 1998, has decided to dispose of its 34% holding to Telenet. The shareholders in Eltrona will hold 50% +1 share and Telenet 50% -1 of the merged entity.

The deal means that Eltrona becomes a cable operator with coverage of the whole of Luxembourg. This will enable it to have a greater impact on what is a very dynamic telecommunications market.

SFR-Coditel Luxembourg joined the Telenet group in 2017, as part of the acquisition of Belgium’s SFR-Coditel activities. The merger will see the SFR brand disappear in Luxembourg to be replaced by the Eltrona brand, at the latest by 30th June of this year. After a migration and integration phase, the respective customer bases of Eltrona and SFR-Coditel will both benefit from a new, extensive, homogeneous, and unique range of telecommunications services, covering the whole of the country.

The merger is set to be finalised within the next few weeks and the parties are working to ensure that the joint venture can begin operating at around the beginning of April. Current clients of SFR-Coditel will receive more information in person over the coming days and weeks.

“This merger enables Eltrona to consolidate its position in Luxembourg, making it more competitive on the Grand Duchy’s telecommunications market. The pooling of resources and the expertise of Telenet and Eltrona will allow Eltrona to develop its range of products and services, while meeting the needs of the Luxembourg market in the best possible way.” Paul Denzle CEO of ELTRONA.

“This strategic partnership is the ideal solution, for both Telenet and Eltrona. Both parties possess complementary skills and we believe that combining them will enable us to offer an attractive grouped range of telecommunications products and services (television, Internet, mobile telephony) on a Luxembourg market that is constantly developing.” John Porter, CEO of TELENET

[1] Eltrona Interdiffusion SA
[2] Coditel SàRL
[3] Telenet BV

Links: Eltrona; Telenet; SFR-Coditel