Iliad’s Broadband bounty


No Not That Iliad! Iliad, owner of France’s second largest broadband ISP, Free, is going to sell shares and raise €80m next week. The post IPO valuation is expected to be around one billion euros, reports The Guardian. The man who is going to benefit from it all: Xavier Niel, the chairman and founder of Ilaid. His stake will be worth about 700 million Euros. According to the report, the money raised will be used to extend the broadband internet, TV and phone service. The company currently has 500,000 broadband customers and plans to double the number by end of the year.

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