Niel says acting independently on Telecom Italia
MILAN Nov 4 (Reuters) - French tycoon Xavier Niel said on Wednesday he was acting independently in his investment in Telecom Italia and held options equivalent to a 15.14 percent stake in the Italian phone group as of Nov. 3 though no voting rights.
In a statement issued at the behest of Italian market watchdog Consob, Niel provided details on the derivatives contracts that could make him the second biggest shareholder in Telecom Italia.
"NJJ Holding confirms it is acting on its own behalf and not in concert with other parties," the holding company controlled by the founder of French mobile operator Iliad said in the statement.
NJJ Holding holds through Rock Investment European-type call options and call spread options on Telecom Italia shares with settlement dates between June 2016 and January 2017. (Reporting by Valentina Za, editing by Francesca Landini)
© Thomson Reuters 2017 All rights reserved.