Proximus has signed a Memorandum of Understanding (MoU) with a Consortium of Belgian financial partners with I4B - The Belgian Infrastructure Fund - as an anchor investor. In the framework of this envisioned partnership, parties involved intend to bring fiber for up to an additional 1.7 million homes and businesses situated in areas with low population density. Provided that a definitive agreement is reached, this deployment would come on top of existing roll-out plans of Proximus and its joint ventures and allow to extend Fiber coverage to 95% of all Belgian homes and businesses. This will permit to bring 10 Gigabit PON technology both in dense and more rural areas. This envisioned extension is not only quite unique in Europe, but also an important step in Proximus’ ambition to ultimately offer a Gigabit network for the whole territory, leveraging fixed wireless access technology for the remaining 5%.

Subject to the conclusion of a final agreement, parties envisage the creation of two new joint ventures (focused respectively on Flanders and Wallonia) that will further increase the availability of Fiber technology in Belgium, with a network that is open and accessible to all under non-exclusive and non-discriminatory terms. The envisioned collaboration represents a total cumulated investment by the joint ventures of approximately EUR 4 billion. Proximus will serve as anchor tenant of the network and will also participate as an important minority shareholder in the equity of the joint ventures, while safeguarding its balance sheet.

I4B - The Belgian Infrastructure Fund – whose founding investors are the Federal Holding and Investment Company (SFPI-FPIM), AG Insurance and Synatom, will act as an anchor investor to the project. I4B’s mission is to finance the development of infrastructure with a positive impact on Belgium’s economic development, while taking into account societal and environmental requirements.

Reinforcing Proximus’ position as the major Fiber-to-the-Home operator in Belgium

The purpose is to cover up to an additional 1.7 million homes and businesses in areas with low population density in the framework of this collaboration, extending Proximus’ ambitions in terms of fiber coverage to up to 5.9 million homes and businesses (95%) by 2032. This includes Proximus’ standalone roll-out, covering 2.2 million premises in the most-dense areas, which is expected to be finalised by the end of 2026, with capex reaching its peak level over the years 2022-2023, and gradually decreasing afterwards. As the deployment in medium-dense areas progresses through Fiberklaar and Unifiber, covering around 2 million premises, this newly envisioned partnership, would become the third important pillar in bringing fiber connectivity to nearly the entire Belgian population. The ultimate goal is to cover the full Belgian territory with a Gigabit network, with fiber as main technology (95%) combined with fixed wireless access in the remaining zones.

The envisioned collaboration will further strengthen Proximus’ leading position in terms of Fiber-to-the-Home deployment in Belgium, expanding considerably the scope for customer retention, gaining new customers and realizing important cost reductions through the decommissioning of the copper network. Today, over 1 million homes and businesses in some 50 cities and municipalities are already connectable to the fiber network. The pace of deployment is rapidly accelerating and is closing in on Proximus’ ambition to cover 22% of all homes and business by end 2022, with a 10 percentage point annual increase as of then. Convinced of the important advantage that fiber technology brings to Proximus, this extension is a significant step forward to remain at the forefront of technological development for many years to come.

Ambition to reach a final agreement by the end of the year

The signature of this Memorandum of Understanding perfectly fits in with Proximus’ commitment to provide the most future-proof and secure network for Belgium as a catalyst for our country’s economy, employment, digital sovereignty and innovation. Further to responding to the ever-increasing demand for bandwidth, it will stimulate the development of new applications and pave the way for businesses to become more competitive, agile and innovative. The main focus being on areas with low population density, this agreement is a crucial step forward towards providing every household and business in Belgium with access to high-speed connectivity.

Following the signing of the MoU, the parties involved will now engage in negotiations on specific terms for the roll-out, aiming to close an agreement by end 2022.

A more detailed update will be provided once a final agreement has been reached.