Liberty Global sells UPC Poland to Iliad for $1.7 bn

Liberty Global has completed the sale of UPC Poland to Iliad S.A.’s Polish mobile subsidiary Play for an enterprise value of PLN 7.0 billion ($1.7 billion).
Liberty Global will use approximately $600 million, the net proceeds from the transaction, after taking into account the repayment of debt, for general corporate purposes, which may include reinvestment into Liberty Global’s business and support for the company’s share buyback commitment.

Liberty Global has agreed to provide Play with certain transitional services for a period of up to four years. These services principally will be comprised of network and information technology-related functions.