Iliad owner Niel sells off all Telecom Italia holdings

News General Italy 28 JUL 2016
Iliad owner Niel sells off all Telecom Italia holdings
French businessman Xavier Niel, the largest shareholder in forthcoming Italian mobile operator Iliad, has divested all his shares and options in Telecom Italia, according to a statement by NJJ Holding, his personal holding company. “NJJ Holding states that neither it nor Xavier Niel holds, directly or indirectly any shares or options relating to Telecom Italia S.p.A.," said the company. 

Niel previously owned options on 15.1 percent of Telecom Italia, potentially making him the second-largest shareholder in the operator behind French media conglomerate Vivendi. However, he pledged to dispose of the options after reaching an agreement to buy assets up for sale as a condition of the merger of Wind and 3 Italia.

Categories:

General

Companies:

Wind,  Telecom Italia,  Iliad,  Vivendi,  3 Italia

Countries:

Italy

Tags:

Shareholders & subsidiaries, M&A buyouts & divestments

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