Pursuits

Billionaire Niel's Telecom Italia Stake Could Rise to 15.1%

Tycoon strengthens position as biggest holder behind Vivendi
French investors seeking more clout over Italian carrier

Xavier Niel.
Photographer: Bertrand Guay/AFP via Getty Images

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By Daniele Lepido

October 30, 2015 at 7:35 AM UTC

Updated on

October 30, 2015 at 5:25 PM UTC

This article is for subscribers only.

French billionaire Xavier Niel holds securities that could give him a 15.1 percent stake in Telecom Italia SpA, boosting his influence at the phone carrier and strengthening his position as the biggest shareholder behind Vivendi SA.

Niel’s holding includes a potential 10 percent stake stemming from six options contracts and the remainder based on other long positions, according to a filing released by Italy’s market regulator Consob Friday. At Friday’s market price, a 15 percent stake in Telecom Italia’s voting shares is valued at about 2.7 billion euros ($3 billion). On Thursday, the regulator said Niel, the founder of broadband provider Iliad SA, held securities through his personal investment company giving him an 11 percent voting stake.