Why Xavier Niel leaves the operator Free from the Stock Exchange


MAINTENANCE – Thomas Reynaud, Managing Director of Iliad, details in Figaro the reasons for the simplified takeover bid launched by Xavier Niel.

Xavier Niel decides to pursue the Iliad adventure alone. Six months after the delisting of Altice Europe, a new telecoms operator withdrew from the stock market. Xavier Niel will spend up to 3 billion euros to buy the minority shareholders himself and get Iliad out of the stock market. The 61% premium on the last quoted price is generous. This is the price to pay to thank the shareholders who trusted him for sixteen years. Listed on the stock market in 2004, the young company has long been the darling of investors. But, in recent years, they no longer like telecom stocks. The reason? They no longer offer the crazy growth that was dreamed of in the early 2000s and they cannot offer high returns because they devote their cash to investing in 5G and fiber.

It is the curse of the telecom operators. They invest billions of euros per year to improve everyone’s connection to the internet and therefore

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