Cellnex’s €800 Million Agreement with Iliad to Acquire the network of c. 7,000 Play sites in Poland

Cellnex's €800 Million Agreement with Iliad to Acquire the network of c. 7,000 Play sites in Poland

Herbert Smith Freehills, Clifford Chance, Bredin Prat, Sołtysiński Kawecki & Szlęzak and Arendt & Medernach advised on the deal.

Cellnex, the main European operator of wireless telecommunications infrastructure, has finalized an agreement with Iliad, a French telecommunications group and parent company of Free, relating to the purchase of 60% of the capital of the company which will be responsible for managing nearly 7,000 branches of the Polish mobile operator Play, itself affected by a friendly takeover bid launched by Iliad and which should be finalized by the end of November 2020.
Cellnex will invest 800 million euros in the acquisition of 60% of the company’s capital and the remaining 40% will still be held by Play (Iliad), like the model adopted during the takeover by Cellnex of the French mobile antennas of Free (Iliad).
The completion of the transaction between Cellnex and Iliad is expected to take place in the first half of 2021 and is conditional on obtaining regulatory approvals and the completion of the acquisition of Play by Iliad. Cellnex will then have 73,000 sites in 9 different countries.

Herbert Smith Freehills advised Cellnex with Edouard Thomas (Picture), Cyril Boulignat, Frédéric Tual (M&A), Christophe Lefort and Thomas Herman (projects).

Clifford Chance also advised Cellnex on aspects of Polish law.
Bredin Prat acted as counsel for Iliad who was also advised by Soltysinski Kawecki & Szlezak on aspects of Polish law and Arendt & Medernach on aspects of Luxembourg law.

Bredin Prat advised iliad with Olivier Assant, Florence Haas, Marine Blottiaux, Léa Francis, Apolline Vanackère (M&A), Julien Gayral, Paul Cauchin (Tax), Yelena Trifounovitch, Clémence Carlier, Thibault Sire (Antitrust), Samuel Pariente, Aurélien Jolly , Vincent Delcourt (Finance), Laetitia Tombarello and Anne-Sophie Arbide-Vignarte (Employment).

The Soltysinski Kawecki & Szlezak team advising Iliad 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.

Involved fees earner: Cyril Boulignat – Herbert Smith Freehills; Thomas Hermann – Herbert Smith Freehills; Christophe Lefort – Herbert Smith Freehills; Edouard Thomas – Herbert Smith Freehills; Frédéric Tual – Herbert Smith Freehills; Anna Bartosiewicz – Soltysiński Kawecki & Szlęzak; Agnieszka Fedor – Soltysiński Kawecki & Szlęzak; Krzysztof Kanton – Soltysiński Kawecki & Szlęzak; Marta Kupczak-Strzelecka – Soltysiński Kawecki & Szlęzak; Slawomir Luczak – Soltysiński Kawecki & Szlęzak; Andrzej Motyka – Soltysiński Kawecki & Szlęzak; Marcin Olechowski – Soltysiński Kawecki & Szlęzak; Magdalena Polak – Soltysiński Kawecki & Szlęzak; Karol Skibniewski – Soltysiński Kawecki & Szlęzak;

Law Firms: Herbert Smith Freehills; Soltysiński Kawecki & Szlęzak;

Clients: Cellnex Telecom S.A.; Iliad SA;

Author: Ambrogio Visconti