RTTNews | Sep 22, 2021 01:21AM EDT

01:20 Wednesday, September 22, 2021 (RTTNews.com) - Liberty Global (LBTYA, LBTYB and LBTYK), a video, broadband and communications company, announced Wednesday its agreement to sell UPC Poland, its operations in Poland, to iliad S.A.'s Polish mobile subsidiary Play.

The sale to Play, a consumer-focused mobile network operator in Poland, is for total enterprise value of $1.8 billion, subject to customary debt and working capital adjustments at completion.

Liberty Global said the cash proceeds, net of debt repayment, from the asset sale would be around $600 million.

Closing of the sale is subject to satisfaction of customary closing conditions, including receipt of requisite regulatory approvals. The closing is currently expected to occur in the first half of 2022.

As of June 30, the company's networks in Poland passed 3.7 million homes and served 1.5 million customers who subscribed to 1.3 million broadband, 1.4 million video, and over 600,000 telephony services.

Play's modern and cost-efficient 4G LTE/5G telecommunications network covers 99% of the Polish population.

In conjunction with the deal, Liberty Global has agreed to provide Play with certain transitional services for a period of up to four years. These services principally will be comprised of network and information technology-related functions.

Read the original article on RTTNews ( https://www.rttnews.com/3227309/liberty-global-to-sell-upc-poland-to-iliad-s-unit-play-in-1-8-bln-deal-quick-facts.aspx)

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