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General

Iliad owner Niel reduces Telecom Italia options

Wednesday 20 July 2016 | 10:00 CET | News
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Xavier Niel, the largest shareholder in forthcoming Italian mobile operator Iliad, has disposed of options on Telecom Italia shares, cutting his potential stake in the group to 6.9 percent from 15 percent previously, a filing with stock market Consob revealed. Niel had pledged to dispose of the options, acquired in October 2015 for EUR 225 million, when Iliad agreed to buy assets up for sale as a condition of the merger of Wind and 3 Italia. Iliad's entry into the Italian market is dependent on approval by the European Commission of the merger, due for announcement by 08 September.

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Categories: General
Companies: 3 Italia / Iliad / Telecom Italia / Wind
Countries: Italy
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