Dentons advised Liberty Global, the world’s largest international TV and broadband company, on the acquisition of Multimedia Polska, Poland’s number three cable operator with 1.6 million homes passed, mainly through its hybrid fiber-coaxial cable network, serving 832,000 unique customers who subscribed to 1.4 million subscription services consisting of 643,000 video, 493,000 broadband and 254,000 telephony RGUs.
Liberty Global made the acquisition through its Polish unit UPC Polska. As of June 30 UPC Poland passed 3.1 million homes, or around 20 percent total households in Poland, serving 1.4 million unique customers who subscribed to 2.9 million cable subscription services. As a result of the combination, UPC Polska will have a subscriber base of 2.2 million, comprising approximately 50 percent of the Polish cable market.
Multimedia Polska recently reported revenue growth of 4.3 percent for the first half of 2016, with sales of €84.2 million for the first six months of the year, boosted by sales figures in additional services such as electricity and gas supply.
“Dentons is proud to have advised on this major media acquisition in Central and Eastern Europe,” commented Rob Irving, Co-chair of the Dentons’ global Private Equity group, who co-led the transaction with Igor Ostrowski, partner in Dentons’ Warsaw office and Head of the Dentons Technology, Media and Telecommunications sector group in Europe.
“This deal represents a strategic move in CEE by one of the top multinational players in the sector. Such significant transactions showcase our strengths in cross-border M&A, as well as our capabilities to help international businesses expand in these important growth markets.”