Xavier Niel takes a 2.5% stake in Vodafone
French businessman Xavier Niel, founder and majority shareholder of Iliad, has acquired a 2.5% stake in British company Vodafone through his investment vehicle Atlas Investissement.
Atlas Investissement said Vodafone is an “attractive investment opportunity given the quality of its asset portfolio and the strong underlying trends in the global telecoms sector.”
Vodafone shares are up 1.5% in early trade to £108.
Atlas Investissement supports Vodafone in its publicly stated intention to find consolidation opportunities and in its intention to separate infrastructure assets.
50 million active subscribers
Vodafone rejected a €11.25 billion bid from Iliad and Apax Partners for its Italy business last February on the grounds that it was not in the best interests of its shareholders.
Atlas Investissement reminded that Xavier Niel has investments in telecommunications in nine countries in Europe with almost 50 million active subscribers and more than 10 billion euros in turnover.
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