January 16, 2018 / 6:39 AM / 7 months ago

BRIEF-Play Has Buy Option To Acquire Virgin Mobile Polska

Jan 16 (Reuters) - PLAY COMMUNICATIONS:

* SAID ON MONDAY THAT ITS WHOLLY-OWNED UNIT, P4 SP. Z O.O. (PLAY), HAS SIGNED A NUMBER OF AGREEMENTS WITH VIRGIN MOBILE POLSKA SP. Z O.O. (VMP), ITS STAKEHOLDERS AND KEY INVESTORS

* AS A PART OF THE AGREEMENTS, PLAY ENTERS INTO AN AGREEMENT TO A BUY OPTION TO ACQUIRE VMP IN 2020

* PLAY AND VMP WILL ALSO CONTINUE THEIR COOPERATION AND THE LEVEL OF GENERATED PAYMENTS TOWARDS PLAY OVER 2018-2021 SHOULD REACH ABOUT 84 MILLION ZLOTYS

* INVESTORS AND SHAREHOLDERS IN THE AGREEMENTS ARE DIRLANGO TRADING & INVESTMENTS LIMITED AND VMCEE B.V, VMP: VEGUEROS COOPERATIEF U.A., FARLEDICO INVESTMENTS LIMITED AND KAI-UWE RICKE

* VMP IS A MOBILE VIRTUAL NETWORK OPERATOR AND HAD 0.4 MILLION OF USERS AT THE END OF 2016

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Further company coverage: (Gdynia Newsroom)

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