Proximus SA PROX.BR

Founded in 1930, Proximus Group is a Belgian telecommunications provider, previously known as Belgacom. Despite being a private company, over 50% of its company shares are owned by the Belgian government. Proximus enjoyed a monopoly as the country’s national telephone company until 1998 when Orange Belgium was established. Proximus also operates in Luxembourg, under the brand name of Tango.

Proximus stock is available for trade on the Euronext under the ticker symbol PROX. The company went public in 2004, with a price per share of between €23 and €26.5. This price would place the company’s total valuation at €8-€9.3 billion. A total of 46.9% of Proximus stock was made available during the IPO, with the government maintaining control of its 50% stake.

The Proximus network is used by several Mobile Virtual Network Operators, including Dommel, PostMObile and TMF Mobile. Virtual operators essentially rent the usage of a network from a mobile operator and are responsible for providing the end user with telecommunications services. Virtual operators do not own their network and rely completely on the mobile operator.

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