Cyfrowy Polsat has agreed to sell its subsidiary Polkomtel Infrastruktura to Cellnex Poland, a subsidiary of Spain’s Cellnex Telecom, for PLN7.07 billion (€1.56 billion).
Under the terms of the deal, Cyfrowy Polsat will sell 74.98% and Polkomtel 25.01% of the share capital Polkomtel Infrastruktura. Following the transaction, Polkomtel will retain 207 shares in Polkomtel Infrastruktura, representing 0.01% of the company’s share capital.
Cyfrowy Polsat notes that Polkomtel’s core network, along with all frequencies used to provide customers in Poland with services in 5G technology as well as in 2G / 3G / LTE technologies, will remain in the possession of Polsat Group. It will work with Cellnex to continue rollout of 5G services in Poland.
The sale, which requires the approval of the Polish competition authority UOKIK, will also strengthen Cellnex Telecom’s position in the Polish market.
Last October it reached an agreement with Iliad to buy a 60% controlling stake in the network of around 7,000 Play sites in the country. The following month it completed the acquisition of Play, the leading mobile operator in Poland.
