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French businessman Niel to buy out and de-list Iliad telecoms company

Reuters
Reuters
 2021-07-30

PARIS, July 30 (Reuters) - Xavier Niel, the controlling shareholder of French telecoms and media group Iliad, said on Friday that he was making a full takeover offer for the company, with a view to removing it from the stock market.

Niel’s offer price will be 182 euros per share, representing a premium of 61.0% to the closing share price on July 29, 2021.

“I founded Iliad in 1999 and I’m very proud of what the group has grown into and the value it has created for all of its shareholders. Iliad is now entering a new phase in its development, requiring rapid changes and major investments which will be easier to undertake as an unlisted company,” said Niel. (Reporting by Sudip Kar-Gupta; Editing by Himani Sarkar)

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