Orange Belgium and Telenet concluded the terms and conditions for the future termination of the Full MVNO Agreement
31 Mayo 2016 - 12:30AM
Joint Press release - Brussels/Mechelen, May 31,
2016
-
Telenet's mobile customers can
continue using the premium mobile voice and data network of Orange
Belgium until the end of 2018.
-
Telenet committed to a minimum
payment of €150.0 million over the 3-year period
2016-2018.
-
Through the termination
Agreement, all outstanding legal disputes between both companies
have now been settled.
Orange Belgium and Telenet have
entered into negotiations in order to agree upon the terms and
conditions for the termination of their Full MVNO Agreement, which
provides Telenet access to Orange Belgium's network. Both companies
have now reached an agreement setting the terms and conditions for
the future termination of this Full MVNO Agreement.
Agreed terms and
conditions for the Full MVNO Agreement termination
The Full MVNO service provided by Orange Belgium
to Telenet will run until the end of the year 2018, implying
Telenet's mobile customers can continue to use Orange Belgium's
network until the end of 2018. Telenet committed to a minimum
payment of €150.0 million (excluding VAT) over the 3-year period
2016-2018. The actual amount paid by Telenet could
exceed this minimum amount in case of higher network
usage. Beyond 2018, an optional 6-month extension period has been
agreed upon with a minimum payment of €15.0 million (excluding VAT)
if triggered. Through the termination Agreement, all outstanding
legal disputes between both companies, including the judicial
recovery of invoices under the Full MVNO Agreement, have now been
settled.
Background
information on the Full MVNO Agreement
By way of background, Mobistar (currently Orange Belgium) announced
its first MVNO Agreement with Telenet in February 2006. In 2009,
Telenet extended its relationship with Mobistar into a Full MVNO
Agreement. In April 2012, both parties decided to extend the Full
MVNO Agreement until December 31, 2017. In February 2016, Telenet
acquired BASE Company NV. Telenet customers, which are currently
hosted on the network of Orange Belgium, will be progressively
migrated to the BASE network where and when the coverage extension
and capacity upgrades will be regarded as sufficient by Telenet.
Orange Belgium Investor Relations
For the full PDF version, please click here
below:
Orange B-Telenet full MVNO - NL
Oange B-Telenet full MVNO - FR
Orange B-Telenet full MVNO - UK
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Orange Belgium via Globenewswire
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