Multimedia shareholders sell 100% of shares to UPC
10:41
Shareholders Multimedia Poland have concluded a preliminary agreement for the sale of 91,764,808 shares, representing 100% of the company's share capital to UPC Poland. The conclusion of the final contract for sale of shares will be subject to approval by the Office of Competition and Consumer Protection (UOKiK), because as a result of the sale, an entity will be formed covering over 4 million households and businesses, Multimedia informed
“Multimedia Group Poland was valued in the transaction at PLN 3 bln (enterprise value). The final price will depend on the level of basic operational and financial indicators of the telecommunications business (RGUs, revenues, EBITDA) at the closing date,” the company stated.
The combined entity will cover more than 4 mln households and businesses and will be able to effectively compete with the other big market players underlined. UPC Poland is the largest cable operator in Poland, with a network covering 3.1 million households in Poland, while Multimedia is the third largest cable operator, covering 1.6 million households.
