Iliad, a company belonging to the man who owns majority stakes in Monaco Telecom and Monaco Matin, will know if its bid for Poland’s largest telecoms operator, Play, has been successful by October 26, as EU antitrust regulators consider the deal.

The 3.5-billion-euro deal would make Iliad, controlled by French tycoon Xavier Niel, Europe’s sixth largest mobile operator. Niel’s company Free has a 19-percent market share in France and its Italian subsidiary is ranked fourth in the country.

The Commission can either clear the deal with or without concessions or it can open a four-month investigation if it has serious concerns. Iliad sought EU approval for the deal on Monday and it seems likely to gain approval.

Play has a 29 percent market share in Poland.

PHOTO: Xavier Niel