Xavier Niel continues his binge on acquisitions in European telecoms.
After Belgium, Ukraine and Ireland in recent months, the billionaire owner of Iliad is now expanding into the Nordic countries by becoming a major shareholder of Tele2.
This operator has no fewer than 3.5 million subscribers in Lithuania, Latvia and Estonia, and 3.5 million more in Sweden, both on mobile and fiber.
To discover
PODCAST - Listen to the latest episode of our Tech Questions series
To acquire a little less than 20% of the capital, Xavier Niel will pay around 1.16 billion euros.
The acquisition of the Nordic company's securities is carried out via an investment vehicle dedicated to the operation, named Freya, and held jointly by the Iliad group as well as by NJJ Holding, one of Xavier Niel's personal vehicles.
The first of the two groups will finance the operation to the tune of 500 million euros, compared to 650 million euros for NJJ Holding.
A way to distribute the financial burden, and thus keep ratios under control…
This article is reserved for subscribers.
You have 72% left to discover.
Flash sale
-70% on digital subscription
I ENJOY IT
Already subscribed?
Log in