A Billionaire's Secret Emails to Reporter Aren't Off Limits

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A Billionaire's Secret Emails to Reporter Aren't Off LimitsOn July 23, 2014, French billionaire Xavier Niel, the founder of phone company Iliad SA, was busy putting the final touches on one of the most daring takeover offers in years when he received an email from a journalist he knew well. Five years later, parts of the private exchange with the Wall Street Journal reporter were made public by France’s markets regulator. The publication on Monday comes as the enforcement committee of Autorite des Marches Financiers criticized Iliad for delaying several days before telling markets about its interest in T-Mobile US Inc. The AMF fined the phone company 100,000 euros ($112,000), saying Iliad should have known the confidentiality of its offer was compromised when Niel was contacted by the newspaper.

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