Netia will pay PLN 221mln for the acquisition of TK Telekom. The transaction will be financed via available credit lines.
Completion of the transaction is subject to a clearance by the Competition Office (UOKIK). The second condition precedent is an approval of the transaction by the General Shareholders Meeting of PKP SA.
“The agreement reflects a consistent execution of Netia’s adopted strategy. In line with the assumptions of our Strategy 2020 the acquisition of TK Telekom will significantly increase Netia’s assets base, expand our fiber optic infrastructure footprint as well as contribute a portfolio of strategically important clients. The acquisition of TK Telekom represents another step in Netia’s consolidation of the Polish telecommunications, which is also one of our strategic goals” - commented Paweł Szymański, CEO.
Following the acquisition of TK Telekom Netia Group will substantially increase its own fiber network footprint with approximately 7,5 thousand kilometers of fiber backbone.
„The transaction will scale up Netia Group’s operations by over 11 percent in general and by over 28% in the B2B segment in particular (pro-forma). The Enterprise Value of the transaction represents approximately 5.2x EV/EBITDA based on the TK Telekom pro-forma EBITDA for 2014 and does not include synergies to be implemented by the Netia Group following the acquisition” – added Andrzej Kondracki, Head of Strategy and Corporate Development, Netia Group.
Netia is one of the biggest and fastest growing telecommunication providers in Poland. It delivers comprehensive, integrated and user-friendly on-line solutions.