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Iliad tables undisclosed bid for Liberty Global's UPC Poland

News

CEO Thomas Reynaud explains the mobile operator’s odyssey.

French telco Iliad has declared that it made an indicative offer for the whole of Liberty Global’s Polish fixed internet operator UPC, reports Reuters. Iliad recently bought the Polish mobile operator Play.

The bid for 100% of UPC Poland’s shares would give the company an enterprise value of 7.3 billion zlotys ($1.90 billion), according to Iliad.

The bid’s valuation was undisclosed but was based on estimated earnings before interest, tax, depreciation and amortisation (EBITDA) of 782 million zlotys (€171.6million) in 2021 for UPC Poland, Iliad said.

Covergence is the goal

On a call with investors, Iliad’s CEO Thomas Reynaud explained that the potential acquisition would be in line with its ambition to become “a true convergent player in Poland," adding that “we’re currently looking at different options on our broadband activity.”

One option, as part of the strategy, would be the “potential acquisition of a broadband player on the Polish market,” Reynaud said, in relation to the group’s approach to UPC Poland. 

Fibre optic roll out for Poland

Another strategy option would be to set up Iliad’s own broadband company to roll out optic fibre technology in Poland, said Reynaud. 

Xavier Niel has just launched a tender to take the company he founded 22 years ago private.