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100% bought toys. Shares in UPC Polska

100% bought toys.  Shares in UPC Polska

The value of the cash acquisition (no debt and no cash) was set at PLN 7 billion, which corresponds to a 2020 EBITDAaL multiplier of 9.3x before the effects of synergies and about 7x taking into account revenue and cost synergies.

UPC Polska is one of the largest ISPs in Poland, with access to 3.7 million FTTx households and 1.5 million subscribers. In 2020, UPC Polska generated revenue of PLN 1.7 billion and PLN 757 million in EBITDA.

Based on the financial statements for 2020, Play and UPC Polska have a total revenue of PLN 9 billion, and EBITDA of PLN 3.2 billion. Play and UPC will provide communication services to more than 17 million subscribers.

The acquisition of UPC Polska requires the approval of the relevant antitrust authorities. The deal is planned to close in the first half of 2022.

The acquisition of UPC by Play is linked to the desire to accelerate investments in fiber optic networks and contributes to the implementation of the company’s vision and ambition to invest in the latest networks, mobile phones and broadband services.

The merger of Play and UPC Polska will create a unique opportunity for the development of Play in the next phase, and we look forward to beginning the collaboration with the UPC team to jointly implement our new ambitions. Play has extensive experience responding to the needs of its customers. UPC Polska has built a very robust platform based on high quality standards. Play and UPC Chairman Jean-Marc Harrion said Play and UPC will unite to create a strong converged operator in Poland.

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The acquisition of UPC Polska reflects Play and iliad’s desire to invest in the new generation of mobile broadband networks and services. This transaction is linked to the desire to accelerate investments in the fiber-optic network and contributes to the implementation of the long-term ambition of developing nationwide connectivity in Poland. We hope that our commitment will have a positive impact on the digital transformation of the Polish economy and benefit consumers and businesses, also thanks to the new comprehensive offerings. Thomas Raynaud, Chairman of the Iliad Group, said we look forward to joining forces and welcoming the UPC staff to Play and the Iliad family after obtaining the required approvals.

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