The French telecoms firm Iliad SA said on Wednesday it had made a deal with Polish fixed internet operator UPC for an enterprise value of 7 billion zlotys $1.78 billion Iliad, which bought the Polish mobile operator Play last year, said in July that it had struck an indicative deal with UPC Poland.
After the purchase of UPC Poland after 2020, Bollinger said that it represents a new step for Iliad in the Polish telecom market, Iliad said in a statement.
The group said the mixed entity would become the second player in that market with formula revenue of 1.96 billion euros $2.30 billion for 2020 and earnings before interest, tax, depreciation and amortisation of 697 million euros.
In a separate statement, Liberty Global said the deal is expected to close in the first half of 2022 and generate $600 million of net cash proceeds after debt repayment.
In July, Xavier Niel, the founder of Iliad and controlling shareholder, said he was offering to buy the remaining shares in the company and take it private.