Iliad's Niel increases stake in Telecom Italia to 15.2%
30 October 2015 |
French billionaire Xavier Niel has increased his stake in Telecom Italia to 15.2%, according to Italian market regulator Consob.
The announcement follows news that Niel, owner of French operator Iliad, had purchased options that could give him a potential voting stake of 6.1% through call options, as well as contracts amounting to 5.1% in Telecom Italia.
With a 15.2% stake in Telecom Italia, Niel is the operator’s second largest shareholder after Vivendi’s majority stake of 20.03%.
Vivendi has steadily increased its stake in Telecom Italia over the year. The operator said it intends to be a long term shareholder and to develop its activities in Southern Europe.