Polish mobile operator P4, operating under the brand name Play, reportedly plans to refinance debt of up to PLN2.4bn (US$775.2m).
P4 is in the process of choosing an adviser for the refinancing, local daily Rzeczpospolita reported citing people familiar…
Polish mobile operator P4, operating under the brand name Play, reportedly plans to refinance debt of up to PLN2.4bn (US$775.2m).
P4 is in the process of choosing an adviser for the refinancing, local daily Rzeczpospolita reported citing people familiar with the matter.
The company was not immediately available for comment.
Greek businessman Panos Germanos’ Tollerton Investments has a 50.3% stake in P4, while Icelandic businessman Thor Bjorgolfsson’s investment firm Novator owns the remaining 49.7%.
If it goes ahead with the refinancing, P4 will become the latest in a string of Polish telcos to do so. GTS, Emitel and Polkomtel have all refinanced debt recently as well as become acquisition targets. Earlier this month, Deutsche Telekom agreed to buy GTS for €546m, the sales process for Emitel is currently underway, and Poland’s largest media company Cyfrowy Polsat announced last week it will buy a majority stake in the holding company that owns Polkomtel in a PLN5.15bn (US$1.65bn) deal.
P4 claims to have about 10 million customers, equal to an 18% market share. Poland’s three largest mobile operators are Deutsche Telekom’s T-Mobile, Orange and Polkomtel’s Plus.
