Recently mistreated in parliament by the N-VA, the CEO of Proximus heads a new structure which brings together the company’s activities in the United States and India. Clarity, which justifies his salary increase. A risk-taking, too.
An “important step” in the development of Proximus: “”we continue our journey to become one of the world leaders in digital communications”. This is how Guillaume Boutin, CEO of the company, announced the birth of a new structure, Proximus Global.
“This new structure brings together our international affiliates BICS, Telesign and Route Mobile Limited“, he continued. Or entities acquired abroad to find growth centers in the United States and, more recently, in India in this digital communications sector.
Guillaume Boutin himself will take charge of Proximus Globalwhile maintaining the directors of the different entities.
A signal of clarity
The stage was planned, but we also have to see a sign of clarity in communication and governance regarding Proximus’ international strategy. A boost was given last summer with the acquisition of the Indian Route Mobile.
“With this acquisition, we will already be number three in this business, we will have access to five billion mobile phones, we will generate 120 billion messages per year, he told us then. Our clients are Google, Microsoft, WhatsApp, Amazon, Alibaba, Tik Tok… In three or four years, 50% of turnover will be generated by international activities.”
More readable, will the strategy convince? “Betting on growth by making distant acquisitions is always a risky betfor any company,” said economist Bruno Colmant in a report in Trends Tendances. “I am wary of this strategy,” added Geert Noels, CEO of Econopolis.
“This transaction, without impact on Proximus’ cash flow and debt, values Proximus Global at a equity value of approximately 3.1 billion euros“, indicates the company in a press release. That is… twice as much as the Belgian value.
Stronger exposure
By clarifying the game, Guillaume Boutin confirms the message of assurance sent during his hearing in parliamentwhen he responded in substance to the criticisms of the deputies: “I know what I am doing”.
He also justifies the renewal of his mandate, decided last summer, with a substantial increase in salary (400,000 euros more) for “the evolution of its international responsibilities”.
But it also becomes, more than ever, the embodiment of this strategy and exposes itself to growing doubts, while the company’s stock continues to decline on the stock market.
The N-VA, in particular, had been very harsh about laz strategy and the man during his hearing in parliament. However, if the federal negotiations are finally successful, she could soon be in charge… while being absent from the Proximus board of directors.
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