Iliad Founder Niel Owns Warrants Representing 11% Stake in Telecom Italia-Sources
October 29 2015 - 8:18AM
Dow Jones News
By Eric Sylvers
MILAN--Iliad founder Xavier Niel has acquired warrants
representing an 11% stake in Telecom Italia (TIT.MI), according to
two people familiar with the matter, in what could set up a
takeover battle for the Italian telecommunications company.
The news of Mr. Niel's interest in Telecom Italia sent the
shares surging as much as 11%. The shares then settled down about
6% higher at 1.23 euros in midday trading in Milan.
Mr. Niel's fellow Frenchman Vincent Bollore controls 20% of
Telecom Italia through media company Vivendi SA (VIVHY.
The 11% stake in Telecom Italia has a market value of about 2.35
billion euros ($2.59 billion).
Bloomberg News first reported Mr. Niel's stake in Telecom
Italia.
Write to Eric Sylvers at eric.sylvers@wsj.com
(END) Dow Jones Newswires
October 29, 2015 08:03 ET (12:03 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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