Play and UPC in talks on merger

The owners at UPC Polska and P4, the mobile operator of Play are considering  a merger, Rzeczpospolita daily reported. Consequently, a company with annual revenues of PLN 6 billion  would be established, the newspaper pointed out. Joergen Bang-Jensen, the CEO at P4 and James Ryan, a chief strategist at Liberty Global, the owner at UPC Polska met during a conference or merger and acquisition transactions. The daily stressed citing its anonymous source, that a manager of a  such high level as Ryan has a particular purpose to come to such event, which could have been a meeting with the shareholders at P4. Two of them are Cyprus-based fund Tollerton and Icelandic peer Novator, which are allegedly planning to sell Poland's fourth-largest mobile operator P4 for PLN 7.5 billion, sources told Reuters last week. Neither the Polish arm of UPC nor P4 commented on the news. The merger of the two telecommunications companies has been the talk of the Polish media for a few weeks. Ramiro Lafarga, the CEO told Rzeczpospolita earlier that his firm didn't rule out the takeover of a mobile phone network.