Play owned by Novator, a fund of Island millionaire Thor Bjorgolfsson, wants to sell Play, according to “PB” sources. Two weeks ago, “PB” wrote that it is negotiating to sell a stake. Now, the sources say that due diligence is being conducted at the company.
“Ernst & Young is conducting the financial audit”, one of the sources said.
“It looks like a Scandinavian company is the investor. This may be a company from Norway”, another source adds.
P4, Play operator, refuses to comment. So does Constantine Gonticas, the managing director of Novator which holds 75 percent of P4.
“I told you two weeks ago that we want to increase our engagement in Poland. There is nothing more to be said”, Constantine Gonticas believed.
According to “PB” earlier sources, it was TeliaSonera who was interested in Play.
Play had 1m clients in January this year, less then 12 months after it had
launched operations. Next to the Scandinavian investor, Russian capital, Asian
Hutchison and investment funds were interested as well. There are rumors that
the operator submitted its offer to the three biggest telecoms operating in
Poland. Specialists believe the timing is perfect to sell the company. Play is
developing fast, and regulatory authorities favor the company.