AMF approves Iliad’s share buyback offer circular

4 Dec 2019

France’s Financial Market Authority (Autorite des Marches Financiers, AMF) has approved the offer circular (note d’information) regarding Iliad’s proposed EUR1.4 billion (USD1.6 billion) share buyback offer covering 11.667 million shares at a price of EUR120 per share, open to all shareholders of the group, for the purpose of their subsequent cancellation. The completion of the offer remains subject to approval by Iliad’s shareholders at the Extraordinary General Meeting to be held on 20 December 2019. The offer will open once a press release has been issued on 20 December announcing the share buyback has been approved by Iliad’s shareholders and a buyback notice published in a French legal gazette and the Bulletin of Mandatory Legal Announcements (Bulletin des Annonces Legales Obligatoires, or BALO). The offer will run for a minimum of 20 calendar days (until 13 January 2020), with the notice of results expected to be released on 16 January, while the final completion of the capital reduction is slated for 31 January.

France, Free Mobile (Iliad), Iliad (Free)