|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||155.20 - 161.40|
|52 Week Range||74.20 - 161.40|
|Beta (5Y Monthly)||0.20|
|PE Ratio (TTM)||5.40|
|Earnings Date||Mar 17, 2020|
|Forward Dividend & Yield||0.90 (0.58%)|
|Ex-Dividend Date||Jun 24, 2020|
|1y Target Est||159.14|
LONDON/BERLIN, March 17 (Reuters) - Some European telecoms operators reported connectivity problems on Tuesday as millions of people logged on for work at home due to the coronavirus pandemic, driving up data traffic by as much as 30% and testing networks. Governments from Spain to Austria have imposed strict lockdowns to curb the spread of the new coronavirus. At the same time, more calls are being placed over mobile networks rather than data-driven chat services like WhatsApp, as people check in with elderly relatives who are most at risk from coronavirus but less likely to use messaging apps.
At the Board of Directors' meeting on March 16, 2020, Xavier Niel – founder of the iliad Group and its principal shareholder1, with an interest of over 71% – was unanimously appointed Chairman of the Board. Maxime Lombardini has been appointed Vice-Chairman of the Board of Directors. Jacques Veyrat, former Chairman & CEO of Neuf Cegetel and the Louis Dreyfus group, and currently Chairman of Impala SAS – a holding company which controls some fifteen companies operating notably in the energy and manufacturing sectors.
French telecoms operators will exercise greater discipline allocating internet bandwidth from Monday as France braces for a surge in the number of people working from home, the industry lobby's chief said on Sunday. The move could affect access to video-streaming platforms such as Netflix and YouTube as well as Facebook, the world's biggest social network. "We're entering an exceptional phase which brings us to take a close look at the (traffic) peaks to which we have become accustomed," Arthur Dreyfuss, the head of France's telecoms lobby FFT, told Reuters by telephone.
Today, in line with the agreement announced on September 3, 2019, Iliad S.A. closed its strategic partnership deal with InfraVia (a French private equity firm specialized in infrastructure) through the sale of 51% of Investissements dans la Fibre des Territoires ("IFT") to InfraVia based on a 100% enterprise value of around €600 million. Formed specifically for the purpose of this partnership, IFT is a company dedicated to actively managing fiber lines.
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French telecoms and media group Iliad formally launched on Monday its previously announced plan for a 1.4 billion euros ($1.6 billion) capital increase, which will be used to finance a share buyback offer. Iliad, which runs the Free telecoms and internet service, said the capital increase would be priced at 120 euros per share, marking a discount of around 2.4% to Iliad's closing price of 123 euros on Jan. 17.
Today, the French securities regulator (Autorité des Marchés Financiers, or "AMF") published a notice announcing that 15,239,719 shares had been tendered to the share buyback offer launched by Iliad on the open market (the "Buyback Offer"). The Buyback Offer ran from December 23, 2019 through January 13, 2020 (inclusive) and offered shareholders the possibility of selling their Iliad shares back to the Company at a price of €120 per share, subject to an overall ceiling of 11,666,666 shares. As the total number of shares tendered to the Buyback Offer, i.e.15,239,719, was in excess of the maximum 11,666,666 that the Company had undertaken to repurchase, the number of shares in the buyback requests was reduced proportionately in line with shareholders' interests in the Company (in accordance with Article R. 225-155 of the French Commercial Code).
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Paris, December 23, 2019 Completion of transactions on its passive mobile infrastructure in France and ItalyIn accordance with the agreement signed on May 7, 2019, Iliad SA.
This press release drawn up by Iliad is being published in compliance with Article 231-27, paragraphs 1 and 2, of the General Regulations of the French securities regulator – the Autorité des Marchés Financiers ("AMF"). In accordance with Article L.621-8 of the French Monetary and Financial Code (Code monétaire et financier) and Article 231-23 of the AMF's General Regulations, the AMF – pursuant to its compliance decision dated December 3, 2019 – has approved under visa number 19-557 the offer circular ("note d'information") concerning the offer launched by Iliad to buy back 11,666,666 of its own shares on the open market (the "Offer").
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French billionaire Xavier Niel said on Tuesday he was ready to pour 1.4 billion euros into Iliad <ILD.PA> to show his commitment to the telecoms group he founded and majority owns, despite several tough quarters and a share price plunge. Iliad, whose cut-price phone deals shook up France's mobile market, was beaten at its own game in recent quarters as a price war dented its market share, undermined its profitability and more than halved the value of shares in the past two years. Niel, who owns a little more than 52% of Iliad, said in a call with analysts that he heard the frustration of some of the group's shareholders but that he still believed in its strategy.
A share buyback offer representing up to €1.4 billion and involving 11,666,666 shares (19.7% of the Company’s share capital), at a price of €120 per share, giving shareholders the opportunity of having cash returned to them, with a significant 38% premium on the volume-weighted average price of the Iliad share over the last three months.
COMMUNIQUÉ DE PRESSE RELATIF AU DEPOT D’UN PROJET DE NOTE D’INFORMATION RELATIVE A L’OFFRE PUBLIQUE DE RACHAT INITIEE PAR ILIAD PORTANT.
The Iliad Group and InfraVia (a French private equity firm specialized in infrastructure) have entered into exclusive talks to set up a partnership aimed at accelerating FTTH rollouts outside very densely populated areas of France (representing around 26 million lines), via a specially created entity. As part of the operation, Iliad has set up a special entity to actively manage fiber lines.
(Bloomberg) -- European phone companies are selling their mobile masts and growth-hungry U.S. tower companies have money to spend -- it looks like a marriage made in heaven.Instead, firms like American Tower Corp. and Crown Castle International Corp. are largely staying away, making it easier for Spain’s Cellnex Telecom SA and infrastructure funds managed by Macquarie Group Ltd., KKR & Co. and others to sweep up the region’s tower assets.Their hesitation is driven partly by price: the global hunt for yield has driven up the premium for these assets, which offer reliable, steady income streams. Independent tower companies also won’t pay top dollar unless they see a path to significant revenue growth -- and that’s where they have a problem with Europe.“The American tower companies say, ‘OK, Europe is fine at the right price, but prices are not where we need them to be, so we think the opportunities elsewhere are more attractive,”’ said Nick Del Deo, senior analyst at U.S. research firm MoffettNathanson.Tens of thousands of European masts are expected to see ownership changes in the next two years as companies such as Iliad SA, Vodafone Group Plc and Telecom Italia SpA bring in new investors to reduce debt and share the heavy cost of rolling out 5G technology.But only a quarter are likely to end up with independent operators, according to TowerXchange. Vodafone and CK Hutchison Holdings Ltd. are creating separate units for almost 90,000 towers and the consultancy expects them to maintain control over those businesses. That’s a turn-off for independent companies, which try to maximize revenue by leasing mast space to as many network operators as possible.Many European carriers want to keep some hold on their towers because they see mobile infrastructure as a strategic asset that can help them manage costs and perhaps gain a competitive edge. They’re also mindful of what happened in the U.S., where operators rushed to sell their towers more than a decade ago only to find themselves stuck with a big bill for leases and capacity rights.Vodafone Surges on Possible IPO, Stake Sale of Towers UnitVodafone and Telefonica Ink 5G Terms in Move to U.K. Tower SalesNiel Agrees to $3 Billion of Phone Tower Sales to CellnexCK Hutchison to Separate Out European Phone Towers BusinessSelling full ownership of towers to independent players can spur innovation and reduce expenses by encouraging carriers to share infrastructure, avoiding costly duplication. European carriers’ insistence on maintaining control means the continent’s progress in rolling out 5G will likely continue to be slower compared to the U.S., where towers are largely in independent hands.“There is a risk that the European carriers go too far the other way,” Del Deo said. “The captive tower model, if you look globally, has never proven to be that effective.”For now, American Tower is mostly relying on building towers in Africa, Latin America and India for its international growth.Crown Castle didn’t respond to a request for comment on its future European asset bidding plans. American Tower declined to comment. Its chief executive officer, James Taiclet, told analysts last month that recent large European tower sales didn’t meet its bar for growth prospects and asset costs.Here are some other reasons why U.S. tower firms aren’t piling into Europe:Redundancy: Europe has more cases of towers operated by rival carriers sitting in close proximity. An independent owner may want to remove one to cut costs, but the tower often comes with a ground lease that they must keep paying for years.Less Potential: Europe has lots of rooftop antenna sites, which can’t accommodate as many customers as can a ground-based tower. Many European portfolios include broadcast towers in rural areas that may not be as valuable as mobile towers.Radio Emission Rules: In some countries, rules on maximum electromagnetic radio emissions limit the number of antennas a tower firm can install at a single site.\--With assistance from Scott Moritz.To contact the reporter on this story: Thomas Pfeiffer in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Kenneth Wong at email@example.com, Jennifer Ryan, Anthony PalazzoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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(Bloomberg) -- Swisscom AG’s Italian unit Fastweb is becoming the fifth wireless carrier in an industry that had aimed to reduce the number of mobile phone players in a bid to fight shrinking revenue.Italy’s Development Ministry awarded Fastweb the license last week, a company representative said. Fastweb, which offers high-speed internet services to consumers and businesses wants to attract more lucrative subscribers from rivals such as Telecom Italia SpA and Vodafone Group Plc in one of the world’s most competitive mobile markets.Fastweb had already provided mobile service by renting space on Telecom Italia’s network. Now, it plans to build its own infrastructure. The company paid about 200 million euros ($223 million) for mobile spectrum and towers from Tiscali SpA last year and then bought 5G frequencies for 32.6 million euros. In June, Fastweb also reached a deal with CK Hutchison Holdings Ltd.’s Wind Tre to share investments to build 5G networks in Italy.Fastweb’s move goes against the consolidation trend in the Italian telecomunications industry that started in 2015, when VimpelCom Ltd. and Hutchison reached a deal to combine their Italian businesses. Between 2013 and 2018, the Italian mobile industry lost 2.4 billion euros of revenue due to a price war among service providers, according to the country’s communications regulator Agcom.When Wind and Tre agreed to merge, industry executives hoped consolidation would ultimately cut the number of Italian carriers to three from four.Instead, France’s Iliad SA, one of Europe’s most aggressive phone carriers in term of pricing, entered the Italian market last year following a request by the European regulator to maintain competition.To contact the reporter on this story: Daniele Lepido in Milan at firstname.lastname@example.orgTo contact the editors responsible for this story: Rebecca Penty at email@example.com, Dan LiefgreenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.