Play takes over Virgin Mobile Polska
Play network operator P4 concluded the preliminary share purchase and sale agreement regarding the acquisition of 100 percent shares in Virgin Mobile Polska from its partners and major investors, including Delta Partners Emerging Markets TMT Growth Fund II L.P. and Dirlango Trading & Investments.
The purchase price for 100% shares in Virgin Mobile Polska was set at €13.4 million (PLN 60.7 million). The purchase will be financed from own funds and based on available Play external financing and will be subject to certain adjustments related to the financial situation of Virgin Mobile Polska when closing the transaction.
The acquisition of Virgin Mobile Polska requires the antitrust approval of the President of the Office of Competition and Consumer Protection (UOKiK). After fulfilling all conditions precedent, Play will inform the market about the awaited conclusion.
The acquisition of Virgin Mobile Polska, taking into account integration costs and anticipated synergies, should have a positive impact on adjusted EBITDA and free cash flow for shareholders.
(WBJ)
