Belgacom sells Orange stake

Belgian operator Belgacom announced it is selling its stake in the Belgian arm of French mobile operator Orange for 147.8 million euros ($193.5 million dollars), an AFP report said.

The AFP report said Belgacom, which owns rival Belgian mobile operator Proximus, acquired an interest of about 3% stake in Mobistar when it bought Belgian telecommunications services group Telindus in January 2007.

The company said that the stake did not represent a 'strategic asset' and therefore it had waited for an 'opportune moment' to sell it in the 'best financial conditions possible,' the AFP report said.

Shortly after the announcement, Belgacom shares were showing a loss of 1.07% on the Brussels stock market, the report further said.