Xavier Niel buys the shares of Czech Kretinsky

2023-09-23 19:05:10

A short tour of five years and then it’s gone. Czech billionaire Daniel Kretinsky sold his shares in the Le Monde group (The world, Telerama, Courrier international) to another shareholder, Xavier Niel, boss of Free. Daniel Kretinsky entered the capital of the press group at the end of 2018, taking 49% of the shares of banker Matthieu Pigasse in one of the structures which controlled the newspaper, raising concerns among employees.

The Czech billionaire, who in recent years has increased his investments in major media as well as in publishing, industry and distribution, specifies that he “will continue to support French securities and guarantee their independence as shareholders” for example at Elle, Marianne or the magazine Franc-Stireur, “or as a lender” for everyday Release.

The amount of the operation was not communicated, but according to the Financial Timesthe transaction would amount to nearly 50 million euros between Xavier Niel and Daniel Kretinsky.

Unanimous agreement of the independence pole

For its part, Xavier Niel’s holding company (NJJ) specified that the operation was carried out after unanimous agreement of the independence pole of the Mondethe minority structure which ensures its editorial autonomy and brings together employees, journalists, shareholder readers.

“This agreement seals the exit of Daniel Kretinsky from the capital of our group, announced Louis Dreyfus, chairman of the board of directors of Monde and Jérôme Fenoglio, director of Mondein a message sent to employees on Saturday. Xavier Niel will contribute these shares, along with those he already holds, to the Press Independence Fund, an endowment fund which will thus become the first shareholder. of the group. This fund, created in 2021 by Xavier Niel, makes the capital paid to the media legally non-transferable.

“At the end of these movements, the first two shareholders of the Société Éditatrice du Monde will be on the one hand the Fund for the Independence of the Press (…) and on the other hand the Pôle d’Independance”specifies Xavier Niel’s holding company in a press release.

Xavier Niel is also one of the billionaires increasingly present in the capital of major French media. In addition to the Le Monde group, he is a shareholder of Nice morning, France-Antilles or of Paris-Turf. He also financed the creation of the online investigative economic media The Informed.