Liberty Global and iliad Complete Sale of UPC Poland
Liberty Global today announced that it has completed the previously announced sale of UPC Poland to iliad S.A.’s Polish mobile subsidiary Play for an enterprise value of PLN 7.0 billion ($1.7 billion).
Net proceeds from the transaction, after taking into account the repayment of debt, will be approximately $600 million. Proceeds from the sale are expected to be used for general corporate purposes, which may include reinvestment into Liberty Global’s business and support for the company’s significant, multi-year share buyback commitment.
In conjunction with the transaction, Liberty Global has agreed to provide Play with certain transitional services for a period of up to four years. These services principally will be comprised of network and information technology related functions.
