Play telcom to buy Virgin Mobile for over EUR 13 million

P4, a unit of Play Communications, said it will finance the acquisition from its own resources and available financing. Radek Pietruszka/PAP

P4, operator of the Play mobile network, has signed a preliminary deal to buy a 100 percent stake in the Polish unit of Virgin Mobile, the company has announced.

The deal is valued at PLN 60.7 million (EUR 13.4 million).

P4, a unit of Play Communications, said it will finance the acquisition from its own resources and available financing.

The takeover still needs to be approved by Poland's Office of Competition and Consumer Protection.

Play wrote it expects that the acquisition, including integration costs and expected synergies, should have a positive impact on its adjusted EBITDA and free cash flow within the24 months following the purchase.