Press Release

White & Case Advises on €1 Billion Play Communications IPO

Global law firm White & Case LLP has advised Play Communications S.A. (Play) and its shareholders, Novator and Olympia, on the €1 billion initial public offering (IPO) of Play on the Warsaw Stock Exchange, which values the company at €4 billion (PLN 16 billion).

Play will be listed on July 27, 2017. It is the largest IPO in the telecommunications sector in Europe since June 2015, and one of the five largest ever Polish IPOs.

"White & Case has a strong relationship with Novator and Olympia and we've been advising Play since 2014," said White & Case partner Ian Bagshaw, who co-led the Firm's deal team. "Our lawyers in London and Warsaw have advised on a complex and successful IPO that will allow the company to continue its exciting growth journey."

Play, a portfolio company of private equity firms Novator and Olympia, was founded a decade ago and has increased its market share from less than five percent in 2008 to 27 percent in 2017, making it Poland's second largest mobile network. It competes with Orange, Deutsche Telekom's T-Mobile and Polkomtel's Plus, and has more than 14 million customers.

The White & Case team which advised on the transaction was co-led by partners Ian Bagshaw and Jill Concannon (both London), and included partners Jonathan Parry (London), Marcin Studniarek (Warsaw), Prabhu Narasimhan, Martin Forbes, and Nicholas Greenacre (all London), local partner Rafal Kaminski, counsel Grzegorz Jukiel (both Warsaw) and associates Ben von Maur, James Greene, Benjamin Bierwirth, Brian Dearing, David Nisbet, Nicola Chapman (all London) and Monika Dużyńska (Warsaw).

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