Iliad: share buyback offer and capital increase
(CercleFinance.com) - Iliad has announced that its Board of Directors has approved the launch of a 1.
4 billion euro share buyback offer (OPRA) for up to 19.7% of its capital at a price of 120 euros per share.
The shares thus bought back will be canceled as part of a capital reduction that is not motivated by losses. Xavier Niel, who currently directly and indirectly holds 52.1% of Iliad's capital, will not tender his shares to the offer.
The OPRA will be fully financed by a capital increase of the same amount and at the same price. The settlement-delivery of the capital increase will take place before the OPRA and all operations are expected to be completed by the end of January 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
4 billion euro share buyback offer (OPRA) for up to 19.7% of its capital at a price of 120 euros per share.
The shares thus bought back will be canceled as part of a capital reduction that is not motivated by losses. Xavier Niel, who currently directly and indirectly holds 52.1% of Iliad's capital, will not tender his shares to the offer.
The OPRA will be fully financed by a capital increase of the same amount and at the same price. The settlement-delivery of the capital increase will take place before the OPRA and all operations are expected to be completed by the end of January 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.