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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
Updated on

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.