PLAY, the mobile telephony company of the Olympia Group in Poland, is solidifying its presence in the Polish market by acquiring 4G spectrum at the 800MHz and 2.6Ghz frequency bands
- A 400 million euro investment for PLAY
- Significant boost to the company’s competitiveness, through the offer of advanced mobile broadband services and extensive coverage
The Olympia Group, owned by Panos Germanos, is announcing the reservation of 4G spectrum by its PLAY (P4) subsidiary, the Polish mobile telephony company, in the 800MHz and 2.6GHz frequency bands, after the completion of the relevant auction carried out by the Office of Electronic Communications (UKE) of Poland.
According to the auction results published by the competent authority, PLAY, through an overall investment of 400 million euro, reserved:
- 1 frequency block of 2x5MHz bandwidth in the 800MHz frequency band;
- 4 frequency blocks, each of 2x5MHz bandwidth in the 2600MHz frequency band.
After the announcement of the results of the auction, Kostas Karafotakis, General Manager of the Olympia Group, stated “The reservation of the new frequency blocks is fully aligned with our strategy for continuous development and implementation of a long-term investment plan in the telecommunications market of Poland”.
In the coming period, PLAY will submit to the Office of Electronic Communications the official application for reservation of these frequency blocks, and the Authority will then issue the relevant decision. The process is expected to be completed within 2015, whereas payment of the total consideration for the acquisition of the frequency blocks will be made with the Company’s currently available cash and credit facilities. It is noted that following the issue of the decision by the regulatory authority, PLAY will have the right to use the above frequencies for 15 years. It is worth noting that PLAY (P4) already has 4G spectrum, making it particularly competitive in the Polish market.
The Olympia Group, owned by businessman Panos Germanos, is an influential entrepreneurial presence in the Greek and international markets, with 35 years of operation in Greece and 20 years of continuous growth in Europe.
Olympia is a 100% Greek multinational Group, with operations in the sectors of:
- retail with the Public chain of stores
- wholesale through Westnet Distribution, which is specialised in the distribution of IT and high-tech products
- industrial production of energy products and systems, with SUNLIGHT SYSTEMS and SUNLIGHT Recycling
- telecommunications through the PLAY mobile telephony company in Poland
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