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Play to buy Virgin Mobile Polska

April 22, 2020 18.31 Europe/London By Chris Dziadul

P4, the operator of the leading Polish mobile network Play, has entered into a “preliminary share sale and purchase agreement” to buy 100% of Virgin Mobile Polska.

Under the terms of the deal, it will pay a total of PLN60.7 million (€13.4 million) to the company’s shareholders and major investors, who include Delta Partners Emerging Markets TMT Growth Fund ll LP and Dirlango Trading & Investments Limited.

According to Play, the acquisition will be financed through its own and external funds. It will also be subject to certain adjustments related to the financial situation of Virgin Mobile Polska at the close of the transaction.

Furthermore, it will require the approval of the president of the Office of Competition and Consumer Protection (UOKiK), after which Play will inform the market of the “Promised Sale and Purchase Agreement”.

Play believes that the acquisition will have a positive impact on adjusted EBITDA and free cash flow for its shareholders (FCFE) within 24 months of the purchase.

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Filed Under: Central & East Europe, Newsline Tagged With: P4, PLAY, Poland, Virgin Mobile Polska Edited: 27 April 2020 13:06

About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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