Billionaire Niel Says Vodafone ‘Has a Problem’ in Crowded Italian Market

French billionaire made a bid for Vodafone Italy in December
Niel’s vehicle Atlas controls about 2.5% of Vodafone shares

Xavier Niel
Photographer: Nathan Laine/Bloomberg

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By Benoit Berthelot

January 29, 2024 at 1:00 PM UTC

Corrected

January 29, 2024 at 4:23 PM UTC

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Xavier Niel said Vodafone Group Plc “has a problem” in the crowded Italian telecom market, making the comment while his firm’s bid for Vodafone’s local operations is still pending.

Niel’s Iliad SA in December offered to merge with Vodafone Italy, which it valued at €10.45 billion ($11.4 billion). He owns about 2.5% stake in Vodafone, according to a spokesperson for Niel.