SK&S advised Play in the acquisition of shares in UPC Polska

We provided comprehensive advice to P4 sp. z o.o., an operator of the Polish cellular telecommunications network – Play, and the Iliad group, in connection with the acquisition of all shares in UPC Polska sp. z o.o. from the Liberty Global group.

The acquisition value was PLN 7 billion making it one of the three largest M&A transactions in Poland in 2021.

P4 is the operator of the biggest cellular network in Poland, Play, that provides services to 12.9 million customers.

UPC Polska is one of the largest Internet service providers in Poland, with access to 3.7 million households using FTTx technology and 1.5 million subscribers. Play and UPC will provide telecommunications services to over 17 million subscribers.

The acquisition of UPC Polska requires the consent of the competent competition authorities. The transaction is intended to be finalized in the 1st half of 2022.

This is yet another transaction concluded with the Iliad Group. In 2020, our attorneys advised in the first passive infrastructure sale in Poland (read more), as well as in the take-over of Play. It was the largest M&A transaction in Poland in 2020 (read more).

Our Firm advised Play in all Polish aspects of the transaction, closely cooperating with Play’s legal department and attorneys from the French law firm Bredin Prat – the Iliad Group’s advisor.

The transaction team was supervised by Dr Marcin Olechowski, Partner. The multidisciplinary team was composed of, i.a. : Andrzej Motyka, Partner (M&A); Karol Skibniewski, Senior Associate (M&A); Bartłomiej Dębski, Senior Associate (real estate); Michał Oleś, Associate (real estate); and Mikołaj Stępkowski, Associate (IP/IT). Tax advice was provided by Sławomir Łuczak, Partner; and Magdalena Polak, Associate. Advice on regulatory issues was provided by Marta Kupczak-Strzelecka, Senior Counsel (TMT); Joanna Marek, Senior Associate (consumer issues); Damian Kopera, Senior Associate (competition issues); and Katarzyna Klonecka, Associate (personal data). Advice on labour law related issues was provided by Agnieszka Fedor, Partner; and Filip Sodulski, Senior Associate.