A PYMNTS Company

French Iliad Enters Poland With 2.2B Takeover Of Play

By  |  September 21, 2020

French telecoms group Iliad plans to acquire Polish mobile provider Play in a €3.5 billion (US$4.11 billion) deal, expanding billionaire Xavier Niel’s company at a time of depressed valuations across the sector, reported the Financial Times. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Iliad said in a statement on Monday, September 21, that it would launch a tender offer for Play for 39 zlotys (US$10.21) per share, and had already received the agreement of the Polish group’s two biggest shareholders Kenbourne Investments and Tollerton Investments to sell their 40% stake.

    Weak share prices across the European telecoms sector has presented buyers and funds with opportunities to take assets seen as undervalued private or clinch takeovers. Iliad’s move for Play comes shortly after Spain’s