France’s Iliad, the parent company of Eir and other telecom firms, is aiming to achieve €10bn in revenues by 2024, up from almost €9.25bn in the previous year. The company sees potential for growth in the Italian corporate market.
The unlisted group, founded and majority-owned by French billionaire Xavier Niel, is working towards becoming the fifth-largest mobile operator in Europe.
Iliad has a presence in eight European countries, including its majority control of Eir acquired six years ago, and is advocating for the consolidation of Europe’s telecoms sector.
When asked about potential interest in Italian telecom companies, CEO Thomas Reynaud stated that the group does not comment on market speculation but is focused on winning “significant market share” in the fixed-line business.
Last month, Vodafone turned down a revised offer from Iliad to merge their Italian businesses. Meanwhile, talks of a merger or disposal between Vodafone and Swisscom’s Fastweb Italian unit were reportedly more advanced at the time.
Mr. Reynaud expressed interest in the Baltic countries and Sweden, following Iliad’s acquisition of nearly 20% of Swedish telecoms operator Tele2 in February.
In 2023, the company reported earnings of €3.44bn, a 4.2% increase year-on-year, driven by its operations in France and Italy.
This week, Eir announced revenues of €1.3bn in 2023, reflecting a 4% increase from the previous year. Iliad’s brand Free in France attracted 787,000 net new mobile subscribers in 2023, while its Iliad Italia brand in Italy gained 1.16 million net new subscribers.
• Reuters and Irish Examiner
