Iliad’s Play has completed the acquisition of a 100% stake in UPC Polska from Liberty Global.
Play is a leading player in Poland’s telecom market, offering over 15.7 million customers a range of services including TV and fixed and mobile telephony. Meanwhile, UPC has over 1.5 million subscribers and reaches over 3.7 million homes with its services.
Commenting on the closing of the PLN7 billion (€1.52 billion) transaction, which as Broadband TV News reported earlier was first announced in September 2021, Play’s president of the management board Jean-Marc Harion said: “Today we combine the largest and most modern mobile network with the fastest fibre-optic internet and the richest television and entertainment offer. Together, thanks to the talented and fantastic Play and UPC teams, we will redefine convergence for the benefit of the customer”.
Liberty Global says that the net proceeds of the transaction, after taking the repayment of debt into account, will be around $600 million.
It adds that it has agreed to provide Play with certain transition services for a period of up to four years. They will be principally comprised of network and IT-related functions.
