Polish mobile operator, Play (P4) this week signed an agreement regarding the acquisition of 100% shares in Virgin Mobile Polska.
The purchase price for 100% shares in Virgin Mobile Polska was set at EUR 13.4 million (PLN 60.7 million).Play, a unit of Play Communications, said it will finance the acquisition from its own resources and available external financing. The acquisition of Virgin Mobile Polska requires the antitrust approval of the President of the Office of Competition and Consumer Protection.
The acquisition of Virgin Mobile Polska, taking into account integration costs and anticipated synergies, should have a positive impact on adjusted EBITDA and free cash flow for shareholders of its parent company Play Communications Group within 24 months from the date of acquisition, said Play.
