Call-centre • Sitel

Management and workers at Diegem-based call centre Sitel have reached an agreement on restructuring that will see the loss of 70 jobs instead of the 200 originally considered. Many of the jobs will go through voluntary redundancy, though some lay-offs will occur. Sitel employs 850 people, including 120 at a centre in Geel, which is not affected by the cuts.

Congresses • Meeting

Non-profit Meeting in Brugge took in €2.6 million last year in revenue for the organisation of congresses in the city, a 37% increase on the previous year, and has plans to attract more custom with a direct rail link with Zaventem airport, and investment in the Oud Sint-Jan conference site.

Internet • Netlog

The company behind social media site Netlog has been relaunched as Massive Media, and intends to become an online media provider including games, competitions and online dating. The company is 65% in the hands of Netlog founders Toon Coppens and Lorenz Bogaert, and will shortly come out with iPad, Android and BlackBerry apps for its gaming portal Gatcha.

Investment • Gimv

Antwerp-based independent investment and venture capital company Gimv is to partner with its Nordic counterpart CapMan to take a stake of 19% in Expert Photo, a Russian supplier of photo-related services which employs 250 and last year turned over €10 million. Gimv said the acquisition would strengthen its position on the Russian market.

Metals • Bekaert

West Flanders' steel producer Bekaert reported the acquisition of the Chinese steel-wire manufacturer Quindao Hansun from Hankuk Steel Wire of South Korea for a price estimated to be around €30 million. Hansun employs 330 people in Shandong province.

Telecoms • Belgacom

The sale of government-owned shares in Belgacom to Deutsche Telekom has been described as “pretty unlikely” by a senior analyst at Royal Bank of Scotland. The German company had been reported to be “exploring the terrain” with a view to buying some of the 53.5% of Belgacom still in government hands. However such a sale was described as “extremely sensitive,” and would also necessitate an offer for Belgacom's traded shares.