[iliad Press Release] Launch of a squeeze-out procedure for Play’s shares following iliad’s friendly takeover
Press release
Paris, December 21, 2020
Launch of a squeeze-out procedure for Play’s shares following iliad’s friendly takeover
financial release
Following the success of iliad’s public buyout offer for the Polish telecommunications operator, Play, iliad will launch a squeeze-out procedure on December 23, 2020 for all of the Play shares that were not tendered to the offer. These represent a total 8,494,848 Play shares, i.e. 3.3% of the company’s capital.
The cash compensation paid for the squeeze-out will be the same as the per-share price proposed in the public buyout offer, i.e. 39 zlotys per share.
A request for Play’s shares to be de-listed will be made shortly.
About iliad Group
iliad is the parent company of Free, the inventor of the Freebox, the first multiservice box on ADSL. Free is behind numerous innovations in the Broadband and Ultra-Fast Broadband access segment (VoIP, IPTV, flat-rate calling plans to multiple destinations, etc.) and provides straightforward and innovative offerings at the best prices. Since January 2012, Free has brought mobile phone usage within everyone’s reach with straightforward, no-commitment offerings at very attractive prices. As at September 30, 2020, Free had over 20 million subscribers in France (6.7 million Broadband and Ultra-Fast Broadband subscribers and 13.5 million mobile subscribers). On May 29, 2018, the Group launched its mobile network in Italy under the iliad brand, becoming the country’s fourth operator, and had over 6.8 million subscribers at September 30, 2020. Following the acquisition of Play - the leading operator in the Polish mobile market - the Group has become the sixth-largest mobile telecom operator in Europe1.
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| Exchange: Euronext Paris | Market place: Eurolist A of Euronext Paris (SRD) |
| Ticker symbol: ILD | ISIN: FR0004035913 |
| FTSE classification: 974 Internet | Member of Euro Stoxx, SBF 120, CAC Mid 100 |
1 In terms of number of mobile subscribers in Europe, excluding M2M
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