Rymarz Zdort co-advised (on matters related to Polish law) APG in connection with an agreement with Orange Polska to create a joint venture that will operate a fibre network reaching around 2.4 million households in Poland by 2025, mainly in areas that currently lack infrastructure. The joint venture will operate under the name Światłowód Inwestycje (‘Optical Fibre Investments’). This agreement contributes to making fast internet more accessible in Poland and counteracting digital exclusion.
The joint venture will be 50% owned by Orange Polska and 50% by APG. Orange will contribute around 0.7 million fibre connections to Światłowód Inwestycje, including wholesale access to around 160 thousand customers who already use its services. Światłowód Inwestycje will roll out 1.7 million fibre connections, meaning that the network will cover 2.4 million households and will become the largest independent wholesale fibre operator in Poland.
The transaction is expected to close by the end of August 2021.
APG, as one of the world’s largest pension investors, manages the assets of several Dutch pension funds and their 4.7 million participants with a total value of approximately EUR 568 billion (as of February 2021).
Orange is one of the world’s leading telecommunications operators with sales of EUR 42.3 billion in 2020 and 142,000 employees worldwide.
The Rymarz Zdort team advising on the transaction was led by corporate partner Marcin Chyliński, with the support of corporate lawyers and tax advisors: Iwona Her, partner; Monika Kierepa, partner; Robert Krasnodębski, partner; Dr Marek Maciąg, partner; Dr Filip Uziębło, partner; Dr Agnieszka Koniewicz, counsel; Marek Kanczew, counsel; Antonina Falandysz-Zięcik, senior associate; Marcin Płonka, senior associate; Marta Rykalovska, associate; and Kacper Skowron, associate.