Investment firm NJJ Capital SAS, owned by French telecom entrepreneur Xavier Niel, is close to buying a majority stake in Ireland's eir Group plc, The (U.K.) Sunday Times reported.
NJJ Capital could reportedly seal a deal before the year's end, with eir expected to be valued in the region of €1.5 billion.
TMT Finance reported in November that talks about the deal were put on hold for several weeks after eir shareholders disagreed on the company's valuation. Talks have since progressed after an agreement was reached.
Niel initially planned to take a minority stake in eir by buying shares from eir's main shareholders, Anchorage Capital, Singapore's GIC Pvt. Ltd. and Davidson Kempner Capital Management LP, sources told TMT Finance.
A spokesperson for Iliad SA, also owned by Niel, earlier denied that Niel is interested in acquiring eir.
In 2015, eir, then known as eircom, turned down a €3.3 billion takeover offer from an unnamed company, saying the bid was too low.
