Iliad: takeover bid on Polish operator Play
(CercleFinance.com) - Iliad has announced a takeover bid for the Polish telecommunications operator Play, for 39 zlotys per share, in cash (i.
e. around 2.2 billion euros for 100% of its capital, and around 3.5 billion euros in enterprise value).
Iliad has entered into a binding agreement to acquire a 40% controlling stake from the two reference shareholders at a unit price of 39 zlotys, giving it the majority of seats on Play's board of directors.
The transaction remains subject to the required regulatory approvals and will be notified to the European Commission. The subscription period will run from 19 October to 17 November, with the offer's settlement-delivery expected to take place on 25 November.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
e. around 2.2 billion euros for 100% of its capital, and around 3.5 billion euros in enterprise value).
Iliad has entered into a binding agreement to acquire a 40% controlling stake from the two reference shareholders at a unit price of 39 zlotys, giving it the majority of seats on Play's board of directors.
The transaction remains subject to the required regulatory approvals and will be notified to the European Commission. The subscription period will run from 19 October to 17 November, with the offer's settlement-delivery expected to take place on 25 November.
Copyright (c) 2020 CercleFinance.com. All rights reserved.