WITH 90.86% OF SHARES, BELGACOM FINALLY GETS TELINDUS.

• Position: Telindus Group N.V. - Brief Article

After several months of wrangling, Belgium's major telecoms operator Belgacom has finally managed to get its hands on its compatriot, network integration specialist Telindus, in which it now has a 90.86% stake. At the end of September, Belgacom launched a hostile public takeover bid for Telindus for euro 13.50 per share, which was later raised to euro 16.60 after France Telecom entered the race. When France Telecom withdrew its offer earlier in January, Belgacom was left as the only contender.

With Belgacom owning more than 90% of Telindus, it is expected to re-open the bidding for two weeks to give shareholders, who have not yet replied a chance to sell their shares. Telindus fought hard for several weeks to avoid falling into the clutches of its competitor, and even approached France Telecom as an alternative. But, having negotiated a deal that would guarantee it maximum autonomy, Telindus was finally obliged to withdraw its reservations. In terms of the agreement, Belgacom has promised to maintain Telindus' name and brand for a...