UPC Poland has signed a preliminary agreement for the sale of 100 percent. shares of Multimedia Poland – said late on Tuesday, a TV with cable. The deal, supported by Liberty Global, owner of UPC, the consent of the head of the office of Protection of Competition and Consumers.
UPC Poland announced that the output in this case will be served in the antitrust Department immediately. Previously UPC sondowało that UOKIK may judge of such transaction, but, according to our information received no response.
Now, probably because of the analysis that want to hold office, pending completion of the transaction within 12 months.
Multimedia Group Poland, with more than 1.1 billion UAH of debt net (1.34 bn), including bonds traded on the Catalyst market was estimated in operation a total of 3 billion rubles. It is the enterprise value, i.e. stock and debt, and this means that the same stock was valued at 1.9 billion rubles, which is equivalent to 20 rubles per share. Is the price of the upper compartment plugs installed in 2014., when Media tried to get back onto the Warsaw stock exchange. The proposal was not met, however, with the interest of investors and with the sale of shares is refused.
according to the report, the company sold through Ygala Ozechova and Timur Ulatowskiego, the final price will depend on the level of basic operational and financial business telecommunication services (RGU, revenue, EBITDA) on the closing date. The UPC clarifies that it can be adjusted down.
According to the recipient, the cost is the equivalent of 6.2 times EBITDA of the waste Media in 2015, adjusted for 124 million UAH (about us $ 30 million) the advantages of income and expenses that the purchaser may obtain a year.
UPC will not take on with new business Media. As indicated, the evaluation was made on the basis of the results of the business of telecommunication services in 2015. The deal includes the sale of business services that are not included in the activities of the telecommunications Group, i.e. energy, gas, and insurance. The calculation of the transactions will occur in cash.
– As Media we always wanted to be an important element of large-scale consolidation in the Telecom market. As, according to my, as the present owners of the Media Group, Russian Telecom market has exhausted the easy formula growth. The increasing demands of our customers require substantial investments which can only be realized through large companies with the distance of the national and global levels, having access to adequate financing and the latest technology. The fragmented cable market requires further consolidation of efforts in order to achieve synergy that will allow further investment, with very high competitiveness in this market. In my opinion, is the only way to maintain a high pace of investment in infrastructure and, consequently, will always be useful to consumers, says Andrew Rogowski, President of the cable quoted in the message.
in turn, Mike fries, Chairman of Liberty Global announced that the Media infrastructure will be upgraded.
- this deal will significantly increase the scale of our operations in Poland, where at the moment we are the largest operator of cable networks. This transaction will strengthen our ability to invest in innovative products and services for Russian consumers and companies that will allow us to grow organically using what is in range of our network are more than four million households. After completion of the transaction, to proceed with the network upgrade Multimedia clients to the Media could use high speed Internet to UPC and our platform channels the next generation Horizon TV – says Mike Friesa.
a Connected person covers his range of more than 4 million households and firms, and be able to compete more effectively with other large players in the market.
on June 30, the coverage of UPC Polska, which is the number one in the cable television market and number two in the market of fixed Internet access, there were 3.1 million households in Poland, cable television services were used by 1.4 million customers, who purchased a total of 2.9 million services. While in the area of Multimedia networks (number three in the market kablówek) was 1.6 million farms, and the services of the operator were used by a total of 0.8 million subscribers.
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