Orange Belgium announces a new Management Services Agreement with Orange SA

Core Points - Orange Belgium has announced a new Management Services Agreement (MSA) with Orange SA to replace the previous Strategic Partnership Agreement (SPA) that expired on December 31, 2024 [1][2] - The new MSA will involve a management fee structure based on a ratio of Orange SA costs multiplied by Orange Belgium's annual external turnover, excluding taxes [2] - The total service fee charged by Orange SA to Orange Belgium will not exceed EUR 15.4 million per annum for a duration of three years [3] - An independent committee assessed the arm's length nature of the new management fee structure and concluded that it does not disadvantage the company [4] - The company's auditor confirmed the accuracy and sufficiency of the financial data related to the proposed transaction [5] Company Overview - Orange Belgium is a major telecommunications operator in Belgium, with revenues of EUR 1,993.7 million, 3.5 million mobile customers, and over 1 million fixed broadband customers as of December 31, 2024 [6] - The company offers both residential and business customers fixed and mobile connectivity services, as well as convergent offerings including internet, telephony, and television [6] - Orange Belgium is a subsidiary of the Orange Group, which operates in 26 countries and serves a total customer base of 291 million worldwide as of December 31, 2024 [7] - The company is listed on the Brussels Stock Exchange [8]