Iliad-backed Play to acquire UPC Poland from Liberty Global for $1.8bn.

Iliad-backed Play, a mobile operator, agreed to acquire UPC Poland, a provider of telecommunications operations, from Liberty Global, an international telecommunications company, for $1.8bn. “We are highly supportive of the rationale behind this combination and are excited to watch this converged national champion deliver high-quality connectivity across the Polish market. The cash proceeds, net of debt repayment, from this asset sale of approximately $600m will boost Liberty Global’s already substantial cash balance, which stood at $4.1bn as of June 30, 2021. As ever, we remain squarely focused on value creation and are pleased with the premium valuation we received for our Polish business, providing a strong return for Liberty Global shareholders," Mike Fries, Liberty Global CEO.