Xavier Niel has increased his newly-acquired position in Telecom Italia to 15.2%, according to a new filing from Italian market regulator Consob on Friday.
As of 27 October, the French businessman’s potential stake includes 10.03% in call options and other long positions amounting to 5.11%, the regulator said.
The announcement comes less than a day after it emerged that Niel had built up an 11.2% holding in the Italian incumbent.
He is acting through investment firms Rock Investment and NJJ Holding, not via his French telecoms operation Iliad.
With a 15.2% holding, Niel becomes Telecom Italia’s second largest shareholder after Vincent Bollore’s Vivendi, which has spent the past few months increasing its stake in the Italian telco to 20.03%.
Vivendi has noted on multiple occasions that it intends to support Telecom Italia over the long term, and that it is looking to build up its business in Southern Europe.
Niel’s motivation at this stage is unclear.
