Eir-owner Iliad buys stake in Sweden's Tele2 for €1.1bn

French billionaire investor Xavier Niel and his Iliad telecoms group owns Eir in Ireland. Picture: Fennell Photography

French billionaire investor Xavier Niel and his Iliad telecoms group, which owns Eir in Ireland, have agreed to buy about 20% of Swedish telecoms operator Tele2 for €1.16bn, investment company Kinnevik has said. 

Mr Niel and his companies will buy the stake from Kinnevik, the largest shareholder in Tele2. The transaction will take place in three steps, with Iliad holding less than 30% of the voting interest in Tele2 following completion.