Zygmunt Solorz-Zak will acquire Polish mobile phone operator Polkomtel for about €4.5 billion, Financial Times reports. Polkomtel’s existing shareholders will get about €3.8 billion in cash for their stakes in the operator. The deal also includes about €700 million in debt.

Mobile phone group Vodafone will get €920 million for its 24.4% stake in Polkomtel. Polkomtel’s shareholders were advised by Nomura and Goldman Sachs, while Deutsche Bank and Crédit Agricole acted as advisors to the Polish businessman.

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