Iliad in full swing in Poland with the formalization of the takeover of UPC Poland.
After seizing Play, the number 1 mobile in Poland at the end of 2020, Iliad announced on September 22 that it had acquired the Internet service provider UPC Poland. Xavier Niel’s group thus formalizes the signature “An agreement for the sale, by Liberty Global, of 100% of the cable operator to Play for an enterprise value of 7.0 billion zlotys“, or 1.53 billion euros.
In its desire to become a national convergent fixed and mobile operator in Poland, Iliad thus acquires a leading operator, one of the main Internet access providers in the country with 3.7 million households covered in Fiber and 1 , 5 million subscribers. Together, the two operators will become the 2nd largest telecom group in Poland, with, for 2020, a combined turnover of 1.96 billion euros and an EBITDAaL of 697 million euros.
If its finalization is expected in the first half of 2022 after approval by the competent authorities, the transaction will be financed with debt and cash available at Play level. The board of directors of Xavier Niel’s group unanimously approved the transaction. “After the transaction is finalized, UPC Poland will become a subsidiary of Play. The combination of UPC Poland and Play will strengthen innovation and investment in next-generation networks for individuals and businesses ”, also indicates the parent company of Free which intends to launch a Freebox in the country. Iliad is thus continuing its growth in Europe.
Thomas Reynaud, Managing Director of Iliad said: “The acquisition of UPC Poland is part of a logic of accelerating investments in Fiber and consolidates our vision and our determination to invest in new generation mobile and fixed networks and services in Poland. This ambition will contribute to the digital transformation of the Polish economy and will benefit consumers and businesses with innovative and efficient offers. ”