Polish billionaire Zygmunt Solorz-Zak has agreed to buy Polkomtel, the country’s second-largest mobile phone operator, for $5.43 billion in cash.
Reuters reports that the deal, announced shortly before the holiday weekend in the United States, is the largest European leveraged buyout since private equity giant KKR’s $22.2 billion takeover of top British drugstore chain Alliance Boots in April 2007. (A potential $8.5 billion LBO for Danish cleaning services company ISS fell apart earlier this year after ISS rejected the offer by Apax Partners in favor of a since-stalled $2.5 billion initial public offering.)
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