Play Communications to acquire 3S Group for €96m.

Play Communications have entered into a Preliminary Share Purchase Agreement to acquire 3S Group, telecommunications companies from Ambrosia CEE Holding and three founders (minority shareholders) for €96m ($109m). The Transaction supports the Company’s mobile-centric strategy to develop a lean high-capacity wireless network. As Play gears up for the future 5G roll-out, evolution of urban transmission backhaul to high capacity of fiber connectivity is a necessity, while 3S fiber network has ideal footprint complementary to Play’s radio network. On the one hand, it secures long-term cost control, and on the other hand high speed, low latency and adequate service quality. The Transaction also secures benefits from time-to-market and capital expenditure perspectives as compared to greenfield build scenario.