Iliad's Niel Confirms Sights on Big Telecom Italia Stake

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

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(END) Dow Jones Newswires

November 04, 2015 03:40 ET (08:40 GMT)

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