Telecoms group Iliad formally launches 1.four billion euro capital enhance

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FILE PHOTO: RJ45 cables are pictured inside the information centre operated by French telecoms operator Iliad in Paris, France, March four, 2019. Information/Christian Hartmann

PARIS (Information) – French telecoms and media group Iliad formally launched on Monday its beforehand introduced plan for a 1.four billion euros ($1.6 billion) capital enhance, which can be used to finance a share buyback provide.

Iliad, which runs the Free telecoms and web service, mentioned the capital enhance can be priced at 120 euros per share, marking a reduction of round 2.four% to Iliad’s closing worth of 123 euros on Jan. 17.

Final November, French billionaire Xavier Niel mentioned he was able to pour the 1.four billion euros into Iliad to indicate his dedication to the telecoms group he based and majority owns, regardless of a number of robust monetary quarters for the group.

Reporting by Sudip Kar-Gupta; Modifying by Christian Schmollinger