French Billionaire Niel Said to Plan SPAC for Consumer Deals

French telecommunications billionaire Xavier Niel is planning to raise capital through a blank-check firm, people with knowledge of the matter said.

Niel is teaming up with others including Centerview Partners banker Matthieu Pigasse to set up a new vehicle targeting acquisitions in the Europe consumer sector, according to the people, who asked not to be identified because the information is private. They may announce plans as soon as the next few weeks for a listing in France, though the timing could slip into 2021, the people said.