UPC, Liberty Global’s Polish unit, has pulled out of a $876 million deal to acquire Polish counterpart Multimedia Polska. The preliminary takeover deal was first announced in October 2016.
“We have withdrawn from the transaction to acquire Multimedia Polska after failing to agree on revised commercial terms with the sellers that take into account current regulatory and market conditions,” Liberty Global confirmed in a statement. “We remain confident in the business prospects of our Polish operation and will consider other accretive consolidation opportunities as and when they arise.”
“Due to the lack of possibility to make final trade and business arrangements, the parties have unanimously decided to terminate the agreement,” added Multimedia Polska in a separate statement.