Telecoms group Iliad’s shares rise after winning Italy licence

A guest speaks on a mobile phone as she arrives for the French telecoms operator Iliad’s media conference in Milan, Italy, May 29, 2018. (Reuters pic) 

PARIS: Shares in Iliad, the French telecoms group founded by billionaire Xavier Niel, rose on Tuesday after Iliad won the frequency for the 5G mobile phone licence in Italy with a 676.5 million euros (US$786.77 million) bid.

Iliad shares were up by around 4.5% in early session trading, making the stock one of the top performers on the broader Paris stock market.

Iliad, which has been losing ground in France, entered the Italian mobile phone market in May.

However, its shares remain down by nearly 40% so far in 2018, partly due to its problems in France, where a price war has dented its market share and caused Iliad to cut a key profitability target.