Iliad on Jan. 20 launched an estimated €1.4 billion capital increase, to be made through a public offering, to finance a share buy back offer.

The French company issued 11,666,666 shares, representing 19.7% of the share capital, at €120 each.

Shareholders registered by Jan. 17, will be granted priority subscription from Jan. 20 to Jan. 22 at 5 p.m. Paris time. Subscriptions made during this period cannot be traded or transferred.