Xavier Niel sets foot in South America by taking a stake in a major telecoms group

Xavier Niel sets foot in South America by taking a stake in a major telecoms group

Xavier Niel sets foot in South America by taking a stake in a major telecoms group

After Vodafone, Xavier Niel enters the capital of Milicom known for its Tigo brand.

Millicom, owner of the telecom brand Tigo in Latin America, announced on November 9 the acquisition of a 6.99% stake in the group of the founder of Iliad-Free, Xavier Niel, via its holding Atlas Investissement.

While the amount has not been disclosed, Millicom confirmed that a total of 172,096,305 shares were acquired by the telecom magnate and the voting rights for the shares were transferred on October 27.

For its part, Atlas Investissement declared that this entry into the capital as “an attractive investment opportunity thanks to its leading position in Milicom’s regional market in Latin America, its high quality assets and its strong brand”.

The group recently announced a 37.9% year-on-year increase in revenue to $1.39 billion in the third quarter of 2022, after divesting the last of its African operations earlier this year to focus on its Latin markets. -Americans.

Niel’s decision comes after acquiring a stake of 2.5% in the Vodafone group via Atlas in September. In recent years, it has considerably expanded its portfolio both through Iliad, with acquisitions in Poland and Italy, and through the holding company NJJ Holding, which controls operators in Switzerland, Ireland, Monaco and Liechtenstein.

In 2017, the founder of Iliad already dealt with Milicom by buying Senegal’s second mobile operator “Tigo” via a consortium also made up of the Teyliom Group investment holding company controlled by billionaire Yerim Sow, and Sofima, a telecommunications investment vehicle managed by the Malagasy group Axian, owned by the Hiridjee family and partner of Free in Reunion (Only). Tigo will then become Free Senegal. It is not an industrial project of Iliad, the Senegalese operator simply takes over the Free brand while remaining an independent entity.

This article was taken from the Univers FreeBox website