BRUSSELS - Belgian telecoms company Belgacom's Skynet Internet service provider plans to take over France's ISP Infosources.
Once approved by Infosources shareholders and European Union competition regulators, the combine will integrate the two companies' ISP and portal activities.
Belgacom will own 75% of the merged company and Infosources will hold the remaining 25%.
Infosources' multimedia publishing activities, branded Ixo, will be spun off into a separate unit, according to Skynet.
Belgacom is 50% plus one share owned by the Belgian state. The remainder is owned by a consortium called ADSB, which is dominated by U.S. telecoms group SBC but also includes TeleDanmark and Singapore Telecom.
Copyright August 2000, Crain Communications Inc.