Niel begins Telecom Italia withdrawal

20 Jul 2016

Xavier Niel, the owner of the French telecoms group Iliad, has disposed of options he held on Telecom Italia shares, cutting his potential stake in the group to below 7% from 15.14% previously. Niel has promised to sever his ties with Telecom Italia in order to clear the way for Iliad to acquire spectrum and mobile network infrastructure from 3 Italia and Wind Telecomunicazioni, who are looking to divest assets ahead of their planned merger.

Italy, Free, Telecom Italia (TIM), Telecom Italia Group (TIM Group)