Parent company of French operator Free, Iliad Group has launched a public tender offer for all of the shares making up the capital of Polish operator Play Communications, for around €2.2bn.
iliad and Play share a similar success story as the most recent entrants in the mobile market in three major European countries. Together, they have 41 million subscribers in France, Poland and Italy. iliad said it will be the best industrial partner to accompany Play’s growth in the mobile market and optimize its entry into the fixed market.
Like iliad, Play has seen exceptional growth over the past 15 years. It is the most recent entrant in the Polish mobile telephony market, having entered in 2007, and today it has 15 million subscribers and a 29% market share, making it the leading mobile telephony operator in Poland. Play currently employs some 2,800 people.
For iliad, the acquisition represents a unique opportunity for growth and for entering the Polish telecom market. With 38 million inhabitants, Poland is central Europe’s largest market. It is the sixth-largest economy in the European Union and has seen steady growth for 28 years; percapita GDP has risen 6% on average per year over the last twenty years. Through this acquisition, iliad will cement its position as a pan-European telecom player, operating in three of Europe’s largest telecom markets: France, Italy, and now Poland. All three of these countries are in distinct stages of expansion and have clear growth prospects.
