Polish cableco UPC and several private equity firms are reportedly considering bids for Poland’s third largest cableco Multimedia Polska.
EQT, Mid-Europa Partners and Permira are the private equity firms mulling bids for the cableco, which is…
Polish cableco UPC and several private equity firms are reportedly considering bids for Poland’s third largest cableco Multimedia Polska.
EQT, Mid-Europa Partners and Permira are the private equity firms mulling bids for the cableco, which is commanding a price of about €700m (US$861m), Reuters reported, citing unidentified sources close to the deal.
The owners of Multimedia Polska have hired JP Morgan to carry out a strategic review of the company.
The cableco said previously the review would encompass all business operations and that “all options [will] be considered, including maintenance of the existing ownership position”.
According to the Reuters report, first round bids are due next week and Liberty Global-owned UPC, Poland’s number one cableco, is also interested.
Any such deal would be subject to regulatory approval. In February, a sector banker told TelecomFinance that, while an in-country consolidation deal is possible in theory, a merger with a larger player such as Vectra, Poland’s second largest cableco, would face significant hurdles. He noted that the company’s owners have tried to sell it twice in the past.
M2 Investments, a subsidiary of US-based YTD LLC, has a 46.56% stake in Multimedia Polska while Tri Media Holdings and UNP Holdings, both controlled by Cyprus-based EVL, hold stakes of 24.29% and 10.43% respectively.
