Cancellation of the acquisition of Econocom shares by Econocom International BV

Econocom Group has been informed by Econocom International BV that it will not acquire the 5.4% stake held by two companies controlled by Walter Butler in the capital of Econocom Group SE.

This acquisition, announced in February 2020, was conditional on Econocom International BV obtaining bank financing for the amount of the acquisition price. Econocom International was not able to raise such financing within the allotted timeframe, due in particular to the significant developments of the last few days in connection with Covid-19.

If the conditions are met again in the future, Econocom International envisages that such an acquisition could then see the light of day.