The Belgian government has strongly opposed Xavier Niel's attempt to acquire Proximus, viewing it as a hostile takeover and expressing concern over Niel potentially increasing his stake quietly.

Niel's strategy involved keeping SFPIM, which owns over 53% of Proximus, as the main shareholder temporarily, with provisions for Niel to buy shares and an agreement with the Belgian government on leadership and restructuring.

Since November 2023, French billionaire Xavier Niel has held over 6% of Proximus and proposed a deal to acquire the telecom operator in spring 2025, but the proposal was rejected by the Belgian authorities.

Political opposition within Belgium, especially from Flemish parties like N-VA, is strong, as they resist allowing a major Belgian company to come under French control.