Multimedia Polska sells energy unit
Orange Poland has agreed to acquire Multimedia Energia, the energy utility arm of Gdynia-based cable operator Multimedia Polska for PLN37 million (€8.7 million).
Liberty Global-owned UPC Poland is in the process of securing regulatory approval for the acquisition of Multimedia Polska, the number three cable operator in the country.
Liberty Global agreed to acquire Multimedia Polska in October in a deal that valued the latter at PLN3 billion, with the final price subsequent to potential adjustments. However, the deal specifically excluded the energy unit, which was to be retained by the existing shareholders.
The sale of the energy unit to Orange is subject to approval by the Polish competition regulator. Orange said that the acquisition was in line with its strategy of developing services that are complementary to its core telecommunications business. It said the deal would enable it to expand the base of its existing Orange Energy unit to about 100,000, making the leading alternative energy supplier in the country.