Clifford Chance and Herbert Smith Freehills have advised Cellnex Telecom on its agreement with French telecommunication company Iliad SA to acquire a 60% stake in a new company that will operate Iliad-owned Play Communications’ approximately 7,000 telecommunications sites in Poland. Soltysinski Kawecki & Szlezak and Bredin Prat in Paris advised Iliad.
The acquisition price was reported to be close to EUR 800 million.
Earlier this year, Iliad acquired all of the shares of Play Communications from Novator and Olympia,. (as reported by CEE Legal Matters on September 28, 2020).
According to Clifford Chance, the new Polish telecommunications tower company could invest up to EUR 1.3 billion over the next ten years in rolling out up to 5,000 new sites. The agreement between Iliad and Cellnex is expected to close in the second quarter of 2021. According to the firm, the agreement "is subject to the mandatory authorizations and the completion of Iliad's acquisition of Play." After the transaction, Iliad will retain control over the remaining 40% via Play.
Clifford Chance’s Warsaw-based team Managing Partner Agnieszka Janicka, Counsels Krzysztof Hajdamowicz, Jaroslaw Lorenc, Iwona Terlecka, Tomasz Szymura, and Agnieszka Wojtasiewicz, Senior Associates Anna Lyczakowska, Joanna Kaminska, and Lukasz Targonski, Associates Oliwia Hutnik, Nikoletta Koziol, Katarzyna Aleksandrowicz, and Aleksandra Mielcarek, and Junior Associate Katarzyna Kuchta. Also working on the deal were Barcelona-based Partner Guillermo Guardia and Attorney Jose Maria Vilaseca, Madrid-based Counsel Begona Barrantes, Luxembourg-based Partner Christian Kremer, Senior Adviser Lauren Harris, and Associate Nazim Faid, and London-based Partner Alex Nourry, Senior Associate Chandralekha Ghosh, and Associate Sam Parry.
Soltysinski Kawecki & Szlezak's team included Partners Marcin Olechowski, Krzysztof Kanton, Slawomir luczak, and Agnieszka Fedor, Senior Counsels Andrzej Motyka and Marta Kupczak-Strzelecka, Senior Associate Karol Skibniewski, and Associates Anna Bartosiewicz and Magdalena Polak.