Polish operator Polkomtel, working under the Plus brand, has signed a letter of intent with PM 1 Mobile and WBN outlining the initial conditions for a takeover by Polkomtel of Premium Mobile, running a MVNO under the same name. Under the proposed deal, PM 1 Mobile would get PLN 35.5 million for its 28.01 percent stake. Polkomtel intends to acquire a 53.69 percent stake from WBN at a later date.
The transaction still needs clearance from competition watchdog UOKiK; an application has already been submitted. Polkomtel is controlled by the Polsat Group.
Premium Mobile started commercial MVNO services five years ago and has a subscriber base of 425,000, of which 70 percent are postpaid customers. The MVNO reported revenues of PLN 125 million in 2020, up 37 percent year-on-year.
Polkomtel plans to fund the deal from internal cash resources.
