Orange Polska cleared to sell its internet unit Wirtualna Polska
January 28, 2014
Telco Orange Polska (formerly TPSA) can sell its internet unit Wirtualna Polska to internet services firm o2, the anti-monopoly office UOKiK said on Monday.
"The proceedings carried out have shown that the concentration will not lead to limitation of competition," the regulator’s statement reads.
The transaction is expected to be finalized in February 2014, o2 Group said in a press statement.
The takeover will result in the creation of a top player in the segment of horizontal portals as the o2 group and Wirtualna Polska will merge into Wirtualna Polska Group, the o2 press statement reads.
Orange Polska agreed to sell Wirtualna Polska for PLN 375 million to o2 in October 2013, expecting to book PLN 180 million in pre-tax profit gain in 2014, the company said in a market filing back then.