Greenberg Traurig has advised Cyfrowy Polsat S.A. and Polkomtel sp. z o.o. on the sale of a 99.99% stake in subsidiary Polkomtel Infrastruktura sp. z o.o., to Cellnex Poland sp. z o.o., a subsidiary of European telecommunications infrastructure operator Cellnex Telecom.
The value of the transaction, which is pending regulatory approval and is expected to close by the end of 2021, is over PLN 7 billion.
According to Greenberg Traurig, the Polsat Group intends to enter a long-term partnership with Cellnex Telecom in order to accelerate the deployment of 5G technology in Poland. According to the firm, “the partnership is based on the concept of active and passive infrastructure sharing, where the mobile network operator is predominantly interested in the end-user experience, while the infrastructure owner is responsible for delivering the ordered network capacity in the most cost-efficient manner. Polkomtel Infrastruktura is the owner of Polsat Group’s passive and active access layers of mobile telecommunication infrastructure, consisting of approximately 7,000 sites, 37,000 various systems on-air (including over one thousand 5G equipped systems) and a transmission network.”
Greenberg Traurig’s team included Managing Partner Jaroslaw Grzesiak, Partners Stephen Horvath, Daniel Kaczorowski, and Michal Fereniec, Local Partners Michal Bobrzynski, Maciej Pietrzak, and Justyna Szwech, Counsel Barbara Pancer, Senior Associates Paulina Kimla-Kaczorowska, Marek Kleczek, Agnieszka Stopinska. Tomasz Denko, Maja Gawrysiuk, Mateusz Koronkiewicz, and Magdalena Bachleda-Ksiedzularz, and Associates Angelika Makar, Alicja Walerjan, Katarzyna Goljan, Iga Czerniak, and Aleksander Klys.
Greenberg Traurig could not provide additional information on the transaction.
Editor's note: After this article was published, Clifford Chance announced that it advised Cellnex on the deal. The firm's team in Warsaw included Managing Partner Agnieszka Janicka, Counsels Krzysztof Hajdamowicz, Iwona Terlecka, and Agnieszka Wojtasiewicz, and Senior Associate Tomasz Szekalski, as well as a team in London led by Partner Joel Ziff.