New Street: Iliad (Buy, TP: €220, +17%) Minority offer at €182 from Xavier Niel - 1&1 next?
Xavier Niel has made an offer for Iliad minorities at €182, a generous 61% premium to the last undisturbed share price. We have recently felt that an offer was increasingly likely given the lowly Iliad share price, and felt that recent moves in Switzerland and The Netherlands suggested he might be considering a bid – read that piece here.
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