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Future of British Business

Billionaire Niel Buys 2.5% of Vodafone to ‘Accelerate’ Deals

  • Shares bought through Xavier Niel-backed Atlas Investissement
  • Atlas said it supported Vodafone’s intention for mergers
Xavier Niel
Xavier NielPhotographer: Ludovic Marin/AFP/Getty Images
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An investment vehicle backed by French billionaire Xavier Niel has bought about 2.5% of British telecommunications giant Vodafone Group Plc, a stake currently worth £752 million. 

The entrepreneur’s Atlas Investissement said in a filing on Wednesday that it saw “opportunities to accelerate both the streamlining of Vodafone’s footprint and the separation of its infrastructure assets,” as well as cut costs, improve profits and improve broadband in Germany.