French billionaire owner of Eir backs push into organic foods      

Though several European business tycoons have lined up similar stock market listings, many have shunned their home turf to tap New York’s deeper pool of investors.

2MX Organic shares rose on its debut as the company plans to tap into heightened demand for organic food and sustainable consumer goods by acquiring one or several businesses in the sector.

Shares in a special purpose firm, or Spac, backed by French billionaire Xavier Niel and two other partners, have surged on its debut in Paris after raising €300m to seek out acquisitions potentially across Europe for organic food.  

Mr Niel is best known here for the significant control he has over Eir, which he has strengthened since 2018 through his French telecoms firm Iliad and his own NJJ investment firm. He is also a stakeholder in Le Monde newspaper.