Iliad's Niel Confirms Sights on Big Telecom Italia Stake
November 04 2015 - 3:55AM
Dow Jones News
By Manuela Mesco
MILAN--Xavier Niel, the French telecom tycoon, says he is acting
on his own account in buying options equal to a 15.1% stake in
Telecom Italia, the formal national monopoly in which French media
magnate Vincent Bolloré is also an investor through Vivendi SA.
Mr. Niel, the founder of telecom and media group Iliad SA, said
in a statement to the Italy's financial-market regulator on
Wednesday that he's not acting in concert with or on behalf of
other parties in buying the options.
Following last week's announcement that Mr. Niel had built up a
potential stake in the Italian telecom group, the Italian regulator
Consob asked for clarification.
Mr. Niel, who was heard by the regulator in Rome on Tuesday,
said in Wednesday's statement that part of his investment is made
up of options for shares which are exercisable from June 2016 to
November 2017.
Mr. Niel holds his stake through Rock Investment.
Telecom Italia's largest shareholder is Vivendi, the owner of
pay-TV group Canal Plus and Universal Music, which owns a 20% stake
in the company. Mr. Bolloré is Vivendi's biggest single shareholder
and the group's chairman.
Write to Manuela Mesco at manuela.mesco@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 04, 2015 03:40 ET (08:40 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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