France’s Iliad bids for Polish mobile phone operator Play

PARIS (Reuters) – French telecoms group Iliad said in a statement on Monday it was launching a bid for Polish mobile phone operator Play .

Ilia said it would launch a public offer at 39 zlotys per share, valuing the company’s total capital at 2.2 billion euros and corresponding to an enterprise value of 3.5 billion euros.

Ilia said it had already secured a deal to buy 40% of the firm’s capital from to key shareholders.

(Reporting by Geert De Clercq; Editing by Kim Coghill)