French tycoon Xavier Niel has taken a six percent stake in Belgian telco Proximus.
Niel, who is the founder of French telecoms company Iliad, obtained the stake through his holding company Carraun.
Proximus is majority-owned by the Belgian government, holding a 53.51 percent stake, while the telco holds 4.59 percent of its share capital itself.
"We have built a pan-European telecom group over the past decade always focusing on providing our customers with best value for money and relying on high-quality mobile and fixed network infrastructure," said Niel.
He continued: "I have been attracted by the Belgian market for a long time with its strong economy and where a sound regulatory approach has led to a vibrant telecom sector, as demonstrated in the recently discussed FTTH co-investment plan. I am very pleased that we now have the opportunity to invest in Proximus and hopefully create ties for the long-term."
Carraun is the parent company of Irish telecom operator Eir, which has approximately two million customers.
Earlier this year, Niel increased his stake in Millicom International Cellular (MIC) to 19.6 percent. He's the biggest shareholder in the Luxembourg-based telco.
He also acquired a 2.5 percent stake in Vodafone Group in September of last year, thought to be worth $850 million.