News
U.S. cable group and UPC owner linked with smaller rival Multimedia, mobile operator Play.
Liberty Global could be about to get its chequebook out again, with media reports claiming it is looking to make one or more acquisitions to bulk up its operations in Poland.
The U.S. cable group is holding talks that could see it buy Polish cableco Multimedia, and could be interested in mobile operator Play, Reuters reported late last week, citing unnamed sources.
Liberty Global already owns Poland’s largest cable TV operator UPC. A merger with Multimedia would create a company with more than half of the Polish cable market, the newswire said.
One of its sources said that talks between the pair are at an advanced stage, but cautioned that there are still a number of key issues to be settled, including the purchase price.
Another source said Multimedia’s owners are keen to raise at least nine times EBITDA, which could prove a stumbling block for any potential buyers. The cableco turned in EBITDA of 356 million zlotys (€80 million) last year.
Reuters noted that the company has effectively been up for sale since its owners and co-chairmen Tomek Ulatowski and Ygal Ozechov delisted it in 2011.
Its sources also speculated that Liberty Global could join the race for Polish mobile operator Play, which is believed to be up for sale.
The sale process is likely to be officially launched this summer, one of the sources said.
Play is Poland’s second largest mobile operator. A combination of UPC, Play and Multimedia would create a formidable competitor in the market.
