Iliad SA has agreed to buy Polish telecommunications company Play Communications SA for 2.2 billion euros ($2.6 billion) as it expands across Europe.
French billionaire Xavier Niel’s Iliad has offered 39 zloty per share for Play, and has received binding commitments from two controlling shareholders for their 40% stake, the companies said in a statement on Monday. The offer is a 39% premium to the company’s closing share price on Friday.
