Iliad owner considers Millicom buyout

Iliad owner considers Millicom buyout

Xavier Niel-owned company Atlas Investissement announced it is discussing whether to table an offer for Millicom, a move to expand its reach into Latin America. 

Atlas said in a statement it is in preliminary stages and exploring financing options to support its offer price of US$24 per share, which priced Millicom at US$4.1 billion.

The company posted its statement in response to media reports claiming Atlas was on the move to purchase the Latin America-focused operator group.

Atlas previously described Millicom as an “attractive investment opportunity” due to its leading position in Latin American markets, high quality assets and strong brand. It also praised Millicom for exiting its African operations to focus on core LATAM markets.

Atlas Investissement owner Xavier Niel also posesses other telecoms businesses such as Iliad Group as well as Atlas’ parent company NJJ Holding.

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