Xavier Niel's Atlas Investissement Buys GBP750 Million Stake in Vodafone
September 21 2022 - 5:45AM
Dow Jones News
By Joe Hoppe
Atlas Investissement, the investment vehicle of French
billionaire businessman Xavier Niel, has purchased a 2.5% stake in
Vodafone Group PLC--worth around 753 million pounds ($857
million).
Vodafone shares at 0912 GMT were up 2.02 pence, or 1.9%, at
108.4 pence. Given it has 27.73 billion shares in issue, this gives
it a market cap of GBP30.12 billion.
"Atlas Investissement has identified Vodafone as an attractive
investment opportunity, as per the quality of its assets portfolio
and the solid underlying trends in the global telecommunications
sector," the company said.
Atlas said it sees opportunities to speed up both the
streamlining of Vodafone's footprint and the separation of its
infrastructure assets, further reduce costs, and accelerate
broadband development, among others.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 21, 2022 05:30 ET (09:30 GMT)
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