Consolidation in Poland’s cable market is set to gather pace, with Multimedia Polska, its third largest operator, expected to be put up for sale.
Gazeta Prawna reports that Multimedia Polska’s current owners have chosen JP Morgan, who recently oversaw the TVN/Canal+ deal, to act as advisors in any possible transaction.
Although Multimedia Polska is likely to attract strong interest from the market leader UPC Polska and second-placed Vectra, other parties in the frame could include the incumbent telco TPSA, alternative carrier Netia, PTC (the operator of T-Mobile) and several investment funds.
Multimedia Polska could fetch at least PLN2.1 billion (€502.7 million), or seven times its EBITDA (2010), based on the price Liberty Global’s UPC Polska paid for Aster last year.
Multimedia Polska, ended 2011 with over 1.5 million RGUs, while its digital TV (cable and IPTV) subscriber total stood at 195,000.