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Niel ups Telecom Italia stake to 15.1%

2015-10-30 09:06:00| Telecompaper Headlines

(Telecompaper) French billionaire Xavier Niel, founder of internet provider Iliad, has increased his holding in Telecom Italia to the equivalent of a 15.1 percent voting stake, according to a filing with Italian markets regulator Consob. Just a day after it emerged that Niel had an 11.2 percent holding in the Italian company, the latest Consob filing indicates that on 27 October the stake was increased to 15.1 percent via call option contracts and other long positions. Niel is now the second-largest shareholder in Telecom Italia behind French media conglomerate Vivendi, led by another French billionaire, Vincent Bollore, which earlier this week boosted in Telecom Italia to just over 20 percent of the company's ordinary shares. Although a 25 percent holding requires a mandatory takeover offer under Italian market rules, Telecom Italia CEO Marco Patuano sought to play down press reports about the increasing French presence in the Italian operator. "It doesn't strike me as financial speculation. I can't say if the two parties are working together or as rivals but don't think there's a liaison," he said.

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Niel becomes Telecom Italia's number two shareholder with 15% stake

2015-10-30 01:00:00| Total Telecom industry news

French entrepreneur increases his holding in Italian incumbent via call options and other long positions, Consob says.

Tags: with number telecom stake

Iliad founder Niel buys 11% stake in Telecom Italia

2015-10-29 15:29:00| Telecompaper Headlines

(Telecompaper) French billionaire Xavier Niel, founder of internet provider Iliad, has acquired the equivalent of an 11.2 percent voting stake in Telecom Italia, according to a filing with Italian markets regulator Consob. The development comes just a few days after French media conglomerate Vivendi, led by fellow billionaire Vincent Bollore, boosted its stake in Telecom Italia to just over 20 percent of the company's ordinary shares. Niel acquired a stake of around 6 percent via a personal investment company and an additional 5 percent through derivatives, according to unnamed sources cited by Bloomberg. Iliad is the parent company of French mobile operator Free, which has transformed the local telecoms sector since launching in 2012 with a low-tariff policy that has led to a 40 percent fall in prices. Niel has also invested in mobile operations in Switzerland (Orange) and Monaco (Monaco Telecom) in recent years.

Tags: italia telecom founder buys