Eltrona announces merger with SFR-Coditel in Luxembourg | Major Businesses | Business
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As part of a merger of assets, cable operator Eltrona has taken over the business of fellow Luxembourg company Telenet-owned SFR-Coditel.

eltrona 29June2020The merger, accompanied by the issue of new shares in favour of Telenet, is described as an ‘important’ strategic partnership between the shareholders of Eltrona and Telenet and is claimed to benefit the respective customer bases of Eltrona and SFR-Coditel with a new homogeneous and ‘unique’ range of telecommunications services, covering the whole of the country. The deal means that Eltrona becomes a cable operator with coverage of the whole of Luxembourg enabling it to have a greater impact on what it says 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 on 30 June 2020.

After a migration and integration phase, 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.

“This merger enables Eltrona to consolidate its position in Luxembourg, making it more competitive on the Grand Duchy’s telecommunications market,” commented Eltrona CEO Paul Denzle. “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.”

“This strategic partnership is the ideal solution, for both Telenet and Eltrona,” added Telenet CEO John Porter. “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.”

Post Luxembourg group, a shareholder in Eltrona since 1998 and owner of a leading IPTV service in the country, has decided to dispose of its 34% holding to Telenet. Eltrona shareholders will hold 50% +1 share and Telenet 50% -1 of the merged entity.