The iliad Group, acting through its subsidiary Play, entered into an agreement to acquire 100% of the share capital of UPC Poland. This strategic move represents a major step in iliad's expansion within the Polish market following its initial entry through the acquisition of Play. The transaction combines the strengths of a leading mobile operator with a premier fixed-line provider to create a strong convergent operator. The integration is designed to support product innovation and accelerate long-term investments in next-generation fiber networks for consumers and businesses. The combined forces of both companies aim to foster nationwide connectivity and contribute to the digital transformation of the Polish economy.

UPC POLAND, which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the TMT (Tech, Media, Telecom) sector (13.6x).

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