Xavier Niel announces that he has crossed the threshold of 90% of Iliad’s capital and voting rights, and will be able to buy back the rest of the shares – Freebox Universe

Xavier Niel crosses the 90% mark in Iliad’s capital, paving the way for the Group’s full takeover

Listed on the stock market in 2004, Iliad has long been popular with investors, but for several years, telecom stocks have been less appreciated. Launched in an investment cycle with 5G, fiber and its international expansion (Italy, Poland), the parent company of Free believes that its strategy does not necessarily correspond to the expectations of “equity investors”. The group wants more room for maneuver and not to have to undergo the pressure of the markets imposing according to him the performance and the return in full transparency.

This is why Xavier Niel launched on September 9, a simplified public tender offer on Iliad shares at a price of 182 euros per share, the objective of which is to allow the group to withdraw from the Stock Exchange.

Tonight, Iliad announces that Xavier Niel, through his holding company HoldCo II, has crossed the threshold of 90% of the capital and voting rights of iliad (96.46% of the capital), which will allow him to request the implementation of a squeeze-out procedure, ie the buyback of minority shares, as had been announced.

The Group specifies that the final results of the public offer were the subject of a notice published by the AMF on September 29, 2021 and the squeeze-out request will be made in the coming days.