Iliad Group has signed an agreement to acquire cable firm UPC Poland from Liberty Global for PLN7 billion (US$1.8 billion).
In 2020, France-based Iliad acquired Poland’s second-largest mobile operator Play to enter the Polish market. Iliad made a non-binding offer for UPC on 30th July this year, and plans to make the unit a subsidiary of Play once the acquisition is cleared. Subject to regulatory approvals, this is anticipated for H1 2022.
By combining Play and UPC, Iliad aims to create the second largest telecoms group in Poland. The joint turnover of the companies for 2020 totalled EUR1.96 billion (US$2.3 billion) with EBITDA of EUR697 million.
Iliad Group managing director Thomas Reynaud said: “The acquisition of UPC Poland is part of the logic of accelerating investments in fibre and consolidates our vision and our determination to invest in new generation mobile and fixed line networks and services in Poland.”