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Iliad profits soar, sees lift from merger of rivals


By Leila Abboud and Gwénaëlle Barzic PARIS (Reuters) – Shares in French low-cost telecoms company Iliad soared 15 percent on Monday after it announced industry-beating sales and profit growth and signed what could be a transformative mobile network deal with larger rival Bouygues. Iliad, backed by tycoon Xavier Niel, stands to benefit from sector consolidation in prospect after media company Vivendi received two bids for the second-biggest French mobile service, SFR. Bouygues, which is one of the bidders, said on Sunday it had agreed to sell its entire mobile network and some of its spectrum to Iliad for up to 1.8 billion euros ($2.50 billion) to assuage regulatory concerns if Vivendi accepts its offer for SFR.

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SUNDAY, JULY 22, 2018



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