April 4, 2017 / 4:02 PM / 4 months ago

Iliad's Niel sells 1.72 pct stake in private placement - SocGen

PARIS, April 4 (Reuters) - Iliad founder and majority shareholder Xavier Niel will sell a 1.72 percent stake in the French telecoms and internet group, bank Societe Generale said in a statement on Tuesday.

Niel's NJJ holding will sell 1,015,400 Iliad shares in a private placement with Societe Generale as sole bookrunner, the bank said. Niel will remain majority shareholder with a 52.43 percent stake following the operation. (Reporting by Laurence Frost; editing by Michel rose)

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