Upon entering the capital of the Italian Telecom Italia, the head of the operator Iliad and Free newspaper owner Le Monde , Xavier Niel, came frontally shoving another French telecom tycoon, Vincent Bolloré, which Vivendi recently became the largest shareholder of the Italian operator. The Italian stock exchange authority (Consob) confirmed Thursday that the founder of Iliad, parent company of Free, had taken a “potential participation” of 11.2% stake of the Italian group, through derivatives, and that in October 21. A statement made after a sudden surge in the price of Telecom Italia in the Milan Stock Exchange, following press reports suggesting a stake of Xavier Niel in the incumbent.
contacted by AFP Xavier Niel declined to comment, while a spokesman of Iliad, parent company of the operator Free, said the company had no part in the operation which could rise, depending on the course of Telecom Italia at the close Wednesday at € 1.7 billion. Unexpected, this movement can be interpreted as a challenge to the Vivendi group, led by another French telecoms Cador, Vincent Bolloré.
The head of Telecom Italia, Marco Patuano, said he ” not think “that the two groups were acting in concert. “As far as I know, there is no connection” he said.
Kick-permanent shine
Vivendi, owner of Canal + in particular and Universal Music, became the main shareholder of the Italian operator in June with the acquisition of 14.9% of the shares, before increasing its share gradually to 20.03% last Friday. Also questioned by AFP, Vivendi declined to respond to that information. While the French media giant, eager to expand in southern Europe, had expressed his desire for closer ties with telecom operators, Telecom Italia in mind, in order to include access to privileged distribution and a solid customer base, the irruption of Xavier Niel – even privately – Vivendi could complicate plans. Especially as some investors, encouraged by his gradual rise in the capital of the transalpine operator, lent him the will to take control eventually.
On the side of Xavier Niel, observers recalled Recent press reports suggesting the creation by the boss of Free, its ally the banker Matthieu Pigasse and TV producer Pierre-Antoine Capton a fund that can raise 500 million euros to buy the media. With this new radiance, Xavier Niel, 10th makeshift France confirms its image of atypical and unpredictable entrepreneur, telecom industry troublemaker. Reflecting the creation in January 2012 of Free Mobile, which had cut prices and hackneyed cards of the sector in France, long monopolized by Orange, SFR and Bouygues Telecom.
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