The French Competition Authorities have approved the sale of Belgacom subsidiary Groupe Telindus France to Vivendi.
The €95 million deal was signed in March this year after the two companies entered into negotiations a month earlier.
Groupe Telindus France is an IT Services provider that has specialised in transforming large-scale businesses, with a particular focus on the energy and banking sectors.
It is the leading Cisco distributor in the country and recently reported revenues of €241 million.
Already a longstanding business partner of Vivendi subsidiary SFR, it worked with on developing cloud-based communication technologies with the operator last year.
Vivendi and Telindus said they intend to pool resources and provide a single port of call for IT solutions and expertise.
“The transaction will enable the development of services that are based on the complementary skills and long standing collaboration between SFR and Telindus France,” Belgacom said in a statement.
Earlier this year, Belgacom reported that it had a "challenging year" in 2013, with a 2.2 decline in revenues and a drop in net profits from €712 million to €630 million.
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