French businessman Xavier Niel, founder of the operator Free, is close to finalising a deal to acquire a majority stake in Irish telecoms company Eir, reports The Times. The deal could be concluded by end-2017 and is expected to value the company at over EUR 1.5 billion.
Xiel's private investment vehicle, NJJ Capital, will reportedly acquire a majority stake by purchasing shares from Eir's three biggest shareholders - Anchorage Capital, Davidson Kempner and GIC - which control 90 percent of Eir between them. Niel is expected to bring a number of senior managers to Eir if the deal proceeds. The change in ownership, Eir's sixth since 1999, would also activate a long-term EUR 180 million incentive bonus programme for current managers.
