Liberty Global Sells Polish Operations to Play in $1.8 Billion Deal – Global Bulletin

  • Variety
Liberty Global Sells Polish Operations to Play in $1.8 Billion Deal – Global Bulletin
Sale

John Malone’s multinational telco Liberty Global — owners of “Fleabag” and “1917” producer All3Media and joint owners with Telefonica of the merged Virgin Media and O2 – has reached an agreement sell its Polish operations to the iliad group’s Polish mobile subsidiary Play.

Liberty Global has agreed to sell Upc Poland for a total enterprise value of Pln 7.0 billion ($1.8 billion). The sale price represents a multiple of approximately 9 times Upc Poland’s estimated 2021 adjusted earnings before interest, taxes, depreciation, and amortization, and nearly 20 times its estimated 2021 operating free cash flow. The transaction is expected to close in the first half of 2022 and generate approximately $600 million of net cash proceeds to Liberty Global after debt repayment.

Liberty’s networks in Poland serve 1.5 million customers who subscribe to 1.3 million broadband, 1.4 million video, and over 600,000 telephony services.

Acquisition

French-Canadian network Radio-Canada has acquired “Germinal,” the six-part drama based on Émile Zola’s classic 19th century novel,
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