Local businessman Zygmunt Solorz-Zak has been selected to enter exclusive talks to acquire Polish mobile operator Polkomtel, Reuters reports quoting local media.
Solorz-Zak (advised by Trigon, Credit Agricole and Deutsche Bank) reportedly placed the…
Local businessman Zygmunt Solorz-Zak has been selected to enter exclusive talks to acquire Polish mobile operator Polkomtel, Reuters reports quoting local media.
Solorz-Zak (advised by Trigon, Credit Agricole and Deutsche Bank) reportedly placed the highest bid.
In addition to Solorz-Zak, Apax (advised by Morgan Stanley) and a consortium of Telenor (advised by Barclays Capital) and Bain Capital (advised by BNP Paribas) as well as TeliaSonera had been shortlisted, but the latter announced earlier this month that it was pulling out of the process.
KGHM, PKN Orlen, and Vodafone each have a 24.39% stake in Polkomtel, with PGE holding 21.85% and Weglokoks 4.98%.
PKN Orlen is advised by Nomura, while PGE appointed ING. KGHM is advised by Rothschild, and Vodafone hired Goldman Sachs. Nomura is coordinating the pool of advisers.
The transaction has been valued at up to PLN18bn (US$6.45bn).
The enterprise value reportedly includes some PLN2bn (US$731m) in net debt, PLN1.03bn (US$376m) in dividends and PLN103.7m (US$38m) for an antitrust fine. The company reported an EBITDA of PLN2.83bn (US$1bn) and expects to report a similar figure this year.
