Xavier Niel buys Czech investor Kretinsky's stake in Le Monde By Reuters

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Xavier Niel buys Czech investor Kretinsky's stake in Le Monde

Published Sep 23, 2023 11:25AM ET Updated Sep 23, 2023 11:30AM ET

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Xavier Niel buys Czech investor Kretinsky's stake in Le Monde

© Reuters. Xavier Niel, founder of French broadband Internet provider Iliad, arrives for a hearing on the concentration of media ownership in the country, at the French Senate in Paris, France, February 18, 2022. REUTERS/Sarah Meyssonnier/File Photo

PARIS (Reuters) - NJJ Presse, a holding of French telecoms maverick Xavier Niel, has purchased Czech billionaire Daniel Kretinsky's stake in daily Le Monde and committed to transferring this and its existing stake to a fund defending press freedom, it said on Saturday.

"The entire shares held since 2019 by Mr. Daniel Kretinsky's company in the company Le Nouveau Monde were acquired by NJJ Presse (...) with the irrevocable commitment of NJJ Presse to transfer these shares, jointly with the shares already held directly, in the Fund for press freedom", NJJ said in a statement sent to Reuters.

Finance tycoon Matthieu Pigasse, who had sold part of his stake in Le Monde to Kretinsky, will also put his shares in the fund, NJJ said.

The Financial Times had reported shortly before that an agreement was close on a buyout of the shares of the Czech energy magnate, a transaction worth around 50 million euros.

($1 = 0.9388 euros)

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