Play off: sale of Polish cellco abandoned

The sale of Polish mobile operator P4 has been called off after the firm’s owners received no offer which met their valuation. P4, which trades under the ‘Play’ brand, is owned by the Greek fund Tollerton and Icelandic investment company Novator. Reuters reports that the owners received non-binding bids from ‘a handful of private equity firms’ which valued P4 at roughly USD3 billion, though this failed to match their expectations. P4’s Play operation is the second largest mobile service provider in Poland by subscribers, with 27% of the overall market at the end of June 2016, according to TeleGeography’s GlobalComms Database.