Posted on Sep 29, 2021, 5:49 PMUpdated Sep 29, 2021, 7:16 PM
Successful bet for Xavier Niel. The buyback offer at 182 euros per share, which the boss of Iliad had launched on September 9 to buy all the capital of his group and then take it out of the stock market, was a success. The shareholders have largely decided to contribute their shares to the operation. Result, Xavier Niel now holds 96.46% of Iliad and 96.23% of the voting rights, according to the final results published Wednesday evening by the Financial Markets Authority (AMF). The offer ended last Friday, after twelve working days, but the market policeman had not yet given the final verdict. It is now done.
Overall, the founding boss of Free therefore spent around 3.1 billion euros to buy back the balance of Iliad that he did not yet hold. He will now be able to request a squeeze-out procedure, since the 90% threshold has been crossed, which will force the shareholders who have not contributed their shares to the operation to finally sell them to Xavier Niel.