Econocom - 2020 annual report

05 management report profit for the year

BUSINESS OVERVIEW 2.3.4. Acquisitions, disposals, equity investments and formations of 2.3.4.1. subsidiaries

Econocom also subscribed to the capital • increases carried out by its subsidiaries Econocom International Italia and Econocom doBrasil. Legal reorganisation 2.3.4.2. As is the case each year, Econocom group implemented measures to streamline and simplify its legal organisation. Measures performed in 2020 were aimed at combining companies with similar activities in the same country. In France, Alter Way thus merged itstwo operating subsidiaries. Moreover, in order to streamlineand simplify its organisation chart, the Group closed down or liquidated certain subsidiaries in Spain, France andBelgium. As a result of the reorganisationscarried out in 2020, the number of legal entities within the Groupwas reducedthereby streamlining the Companyorganisation.

In 2020, Econocomgroupacquiredadditional equity investments in some of its satellites throughbuybacksof non-controllinginterests and carried out disposals as part of the Group’stransformationplan. Thus, the Econocom group exercised its options in order to strengthen its stake in Altabox. It sold its stake in Digital Security. Moreover, as part of the management of its subsidiaries and the Group organisation chart: Econocomgroup acquired from Econocom • InternationalItalia, its equity investmentsin Asystel Italia and Bizmatica. In addition, Econocom group acquired from its subsidiaryDigital Dimensionall the stock in the Spanishcompany EconocomNexica;

126

2020 annual report