Polish media entrepreneur Zygmunt Solorz-Zak is acquiring the country’s second-largest mobile operator Polkomtel, Reuters reports. The consortium of sellers comprises Polish state-linked companies PKN Orlen, Polska Grupa Energetyczna, KGHM Polska Miedź and Weglokoks, as well as U.K. group Vodafone Group. Polkomtel is being sold for an enterprise value of $5.75 billion.
As a part of the deal, Solorz-Zak, who handles Poland’s largest-listed media group Cyfrowy Polsat, will aim to collect $1.4 billion from the international debt market as part of the financing. One of the richest men in Poland, he has also taken up charge as Polkomtel’s CEO on an interim basis.
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Polish Polkomtel KGHM Polska Miedź Zygmunt Solorz-Zak Reuters