France's Xavier Niel buys 11 pct stake in Telecom Italia
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France's Xavier Niel buys 11 pct stake in Telecom Italia
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France's Xavier Niel buys 11 pct stake in Telecom Italia

(AGI) Roma, Oct 29 - French entrepreneur Xavier Niel has bought6 percent of Telecom's shares through Iliad and another 5percent through derivatives, sources near the stake-buildingoperation told Bloomberg on Thursday. An Iliad spokesman saidneither the company nor its subsidiaries own Telecom shares oroptions. News of Niel's investment brought Telecom shares up 8percent in Milan. The 45-year-old billionaire brought thelow-cost mobile phone company Freemobile to France in 2012,sparking a harsh price war. Considered an anti-conformist and aman close to Francois Hollande, Niel also owns shares in LeMonde and founded Iliad, which
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(AGI) Roma, Oct 29 - French entrepreneur Xavier Niel has bought6 percent of Telecom's shares through Iliad and another 5percent through derivatives, sources near the stake-buildingoperation told Bloomberg on Thursday. An Iliad spokesman saidneither the company nor its subsidiaries own Telecom shares oroptions. News of Niel's investment brought Telecom shares up 8percent in Milan. The 45-year-old billionaire brought thelow-cost mobile phone company Freemobile to France in 2012,sparking a harsh price war. Considered an anti-conformist and aman close to Francois Hollande, Niel also owns shares in LeMonde and founded Iliad, which controls Freemobile. Niel wasalso an Internet pioneer in France and made his fortune bycreating services such as Minitel's "pink" soft porn messagingservice. The sources said his arrival to Telecom is notconnected to Vivendi's, which has a 20.3 percent stake in theItalian company. Italy's stock exchange regulatory board CONSOBsaid Niel holds an 11.2 percent stake in Telecom Italia,including 6.1 percent from call options with expirationsranging from June 2016 to September 2017, and long positionsequivalent to 5.1 percent. Niel's investment "means ourstrategy is creating value," Telecom's CEO Marco Patuanocommented. (AGI) . .

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