Polish mobile P4 reportedly cans sale

By bne IntelliNews October 7, 2016

The sale of Polish mobile operator P4 has been cancelled due to weak bids, newswires reported on October 6. 

Private equity funds Novator from Iceland and Tollerton from Greece were understood to be seeking up to €2.8bn for P4. Offers from a number of bidders have been received, including from consortiums featuring Warburg Pincus and Cinven and Blackstone/CVC Capital Partners, Reuters writes, citing unnamed sources. However, it appears the sellers have upped their expectations.

The sale attracted "seven non-binding offers evaluating the company around the area of €3.5bn,” Tollerton said in a statement confirming the sale has been cancelled.

P4 has been growing rapidly in recent years and its owners were reported to be looking to now cash in, with further expansion likely to prove difficult. Novator was said to be especially keen to exit its decade-old investment. The fund did not originally view its involvement in the company as long-term.

P4’s sales in Poland last year rose 22% to PLN5.4bn, while EBITDA expanded 44% to PLN1.54bn. P4 had a market share of close to 25% at the end of last year, similar to the other main players on the Polish market, T-Mobile, Orange, and Plus.

Related Articles

Central European banks eye south-eastern expansion

Banking merger and acquisition (M&A) activity in Central Europe is likely to be further limited by the upturn in the region’s economies, industry sources said in comments published on May 29. ... more

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Poland shrugs off EU bid to toughen rule of law probe

The EU’s General Affairs Council urged Poland on May 16 to talk with the European Commission about its alleged violations of the rule of law, as Brussels continued to hold back from imposing ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Dismiss