French telecoms group Iliad plans to buy Poland's Play in $4.15 bln deal


PARIS, Sept 21 (Reuters) - Iliad ILD.PA plans to acquire Polish mobile phone operator Play PLY.WA in a 3.5 billion euros ($4.15 billion) deal, the French telecoms group said on Monday, adding that it has secured a deal to buy 40% of the firm's capital from key shareholders.

Iliad said in a statement it would launch a public offer at 39 zlotys per share, a 38.8% premium to Play stock's closing price, valuing the Polish company at 2.2 billion euros ($2.61 billion).

Adding Play's 15 million subscribers, the combined group would enjoy a strong base of 41 million subscribers in France, Poland and Italy.

Iliad said the deal was in the interest of its shareholders as it represents a unique opportunity to enter a major market that is still growing.

It said the deal will be earnings-accretive from the first year itself and said the acquisition will be financed by debt and cash.

($1 = 3.7556 zlotys)

($1 = 0.8429 euros)

(Reporting by Geert De Clercq; Editing by Kim Coghill and Sherry Jacob-Phillips)

((; +33 1 4949 5343; Reuters Messaging: Twitter: @gvdeclercq))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.