Xavier Niel does his telecom shopping … in Monaco

by bold-lichterman

Monaco Telecoms could come under the thumb of Iliad’s boss.

The boss of Free seems to have smelled the good deal on the side of Monaco. According to the British business and financial daily The Financial Times, the French billionaire is about to take a majority stake in the largest telephone company in the Rock: Monaco Telecom. The formalization of the takeover of the 55% of capital held by the British Cable and Wireless Communications – until then the majority – could intervene by the end of the week. As a reminder, the majority group made this acquisition in 2004 from Vivendi.

xavier-niel-frenchweb$ 450 million invested

Personally, the leader of Iliad would invest some 450 million dollars, or the equivalent of 325 million euros to afford this operator, which is the main Monegasque provider of mobile services, fixed telephony, broadband. and pay television. Employing 281 people, it has approximately 17,000 Internet customers and 35,000 mobile customers. A small market, but which is proving to be very profitable: the operator has a net income of 32 million euros for the fiscal year from March 2012 to March 2013.

Xavier Niel would therefore continue his individual projects. In 2010 he joined forces with Matthieu Pigasse and Pierre Bergé to buy The world. Last year, he inaugurated with the computer scientist Nicolas Sadirac his own free training establishment in programming: theSchool 42.

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