Iliad’s controlling shareholder Xavier Niel now owns more than 90% of its shares and voting rights.
In a statement, the company says that based on the results on the public tender offer, Niel has exceeded, through his holding company HoldCo ll, the ownership threshold of 90% of iliad’s share capital and voting rights (96.46% of iliad’s share capital).
This means that he can request a squeeze-out procedure to be launched, as referred to in his intentions concerning the tender offer.
The final results of the tender offer were issued in a Notice published by the Financial Markets Authority (AMF) on September 29 and the request to launch the squeeze-out procedure will be made in the coming days.
Iliad’s interests include Free in France and Poland’s Play Communications. It is also in the process of acquiring UPC Polska, Poland’s second largest cable operator.
