PARIS, Sept 22 (Reuters) - French telecoms firm Iliad SA
said on Wednesday it had struck a deal with U.S. cable
operator Liberty Global Plc to buy Polish fixed
internet operator UPC for an enterprise value of 7 billion
zlotys ($1.78 billion).
Iliad, which bought Polish mobile operator Play last year,
said in July that it had made an indicative offer for the whole
of UPC Poland.
"After the purchase of Play end 2020, the acquisition of UPC
Poland represents a new step for Iliad in the Polish telecoms
market," Iliad said in a statement.
The group said the combined entity would become the second
player in that market with pro-forma revenues 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 about
$600 million of net cash proceeds after debt repayment.
In July, French tycoon Xavier Niel, the founder and
controlling shareholder of Iliad, said he was making a 3.1
billion euro offer to buy the remaining shares in the company
and take it private.
($1 = 3.9360 zlotys)
($1 = 0.8528 euros)
(Reporting by Benoit Van Overstraeten in Paris and Kanishka
Singh in Bengaluru; Editing by Dominique Vidalon and Rashmi