LONDON Oct 6 The owners of Poland's mobile
phone operator Play have called off the auction to sell the
business after private equity offers failed to meet
expectations, two sources familiar with the matter said on
Greek fund Tollerton and its Icelandic counterpart Novator,
which own the business, received non binding bids from a handful
of private equity firms last week, the sources said.
The offers, which valued Poland's third largest mobile
operator at roughly $3 billion, failed to meet expectations.
Tollerton, controlled by Greek businessman Panos Germanos,
owns 50.3 percent of Play, with the rest in the hands of
Novator, controlled by Icelandic businessman Thor Bjorgolfsson.
Play and the two funds were not immediately available for
(Reporting By Pamela Barbaglia, editing by Kirstin Ridley)