Iliad: successful takeover bid on Play
(CercleFinance.com) - iliad welcomes the success of its takeover bid on the Polish telecommunications operator Play.
At the end of the offer - the final results of which have just been announced - the iliad group will hold 246,131,028 shares, representing 96.7% of Play's capital and voting rights, Iliad said.
Play's board of directors has been reformed to reflect the acquisition of Play by iliad, which now includes six directors appointed on proposal by iliad, as well as three independent directors. The settlement-delivery of the offer will take place on 25 November 2020.
The market doesn't seem too impressed though - the share is actually down about 0.7% an hour from close, while the market is keeping afloat.
Copyright (c) 2020 CercleFinance.com. All rights reserved.