Deals
Iliad Agrees to Buy Poland’s Play in 2.2 Billion-Euro Deal
- Play’s two controlling shareholders have agreed to sell stakes
- Iliad plans to ‘optimize’ Play’s entry into fixed services
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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.