P4 owners considering IPO

The owners of Polish mobile operator P4, which trades under the name Play, are considering an initial public offer (IPO) to raise funds for its continued expansion. A report from Bloomberg says that P4’s shareholders – the Greek fund Olympia Development and Thor Bjorgolfsson-led investment company Novator – are looking to take advantage of a recovery in equities markets and a healthy economy in Poland. The two owners had previously tried to find a buyer for P4 but called off the search last year after receiving several non-binding offers which were below their valuation of the cellco. Play is now the second largest mobile operator in Poland, with around 28% of all subscribers at the end of 2016, according to TeleGeography’s GlobalComms Database.