Brought to you by: Pastor Real Estate & Barclays
Flamboyant entrepreneur Xavier Niel – often described as France’s most influential person – is close to finalising a deal to take a majority holding in Eir, Ireland’s biggest telecoms company.
Neil, who in 2014 bought the majority stake in Monaco Telecom previously owned by Cable & Wireless Communications, is expected to take a stake of 90 percent currently held by US funds Anchorage Capital and Davidson Kempner and Singapore’s GIC.
The deal would value the former state-owned company at €1.5 billion. The transaction is expected to close by the end of the year. The sale would be the sixth change of ownership since 1999.
Niel, 50, is the man behind Iliad, the internet service provider and owner of France’s Free mobile service. In addition to his holding in Monaco Telecom, he is also co-owner of the French newspaper Le Monde. He is said to be close to Silicon Valley entrepreneurs Mark Zuckerberg and Elon Musk.
The architecturally exciting new home of the International University of Monaco has been officially inaugurated by H.S.H. Prince Albert II and National Council President Stéphane Valeri.
A new photo book paying tribute to the 126 people who work behind the scenes at the Prince’s Palace and his private home, Roc Agel, has been released.
Prince Albert has joined a gathering of the entire Red Cross Movement in Geneva for a conference under the theme: ‘Acting today to shape the world of tomorrow’.
Monaco now has four new Ambassadors from Belarus, Malayia, Mali and the European Union.
Unhappy clients of JP Construction are directing their complaints to the Monaco Police after the Monaco-registered company ceased trading last week. Several customers of the firm appear to have lost large amounts, with total losses reaching seven figures. Meanwhile, the whereabouts of John Olsen and Peer Pedersen remain unknown. The company's mainly Polish workforce was laid off last week without notice and worksites were abandoned during the day on Thursday…
One young couple near Grasse have been left in precarious circumstances. Not only has their 30,000 euros deposit disappeared, but as a result of excavation work around the house, the building has been left more prone to landslides such as those that hit the area in 2010 and 2011.
"We signed a contract with JP Construction in August and they were due to start work in September. They actually started in the first week of November. They brought in a digger and demolished the terrace and steps in front of the house ready to build a stronger retaining wall. Last Thursday I asked for a meeting with the foreman, and as had happened all along, there were excuses and delays. When we got home from work the digger had gone and so had the truck being used to take away soil. We paid a deposit of 30,000 euros. But that's not our biggest problem...
"Our house now stands completely exposed to the weather. We are expecting rain this weekend and we don't know what will happen. I will be coming to Monaco next week to talk to the police," the victim near Grasse told Monaco Today.
Meanwhile, the thread at anglo-info that victims have been using to communicate is no longer working as posts are taken down shortly after being posted. Victims of JP Construction's collapse are now using the readers' forum at the Riviera Reporter to communicate and organize a coordinated response to recent events. (please see two other reports on JP Construction by scrolling down)