The European Commission has conditionally approved UAE’s ecommerce giant e& to acquire control of PPF Telecom Group, excluding Czech operations. This decision under the Foreign Subsidies Regulation ensures fair competition within the EU market.
In a strategic move set to reshape telecommunications landscapes, UAE telecom consortium e& has inked a €2.15 billion deal to procure a significant slice of PPF Telecom Group’s European operations. This stakes in Bulgaria, Hungary, Serbia, and Slovakia come bundled with control over the local branches of telecom infrastructure divestment, Cetin. With an elaborate contingency payout plan incorporated, the deal also holds implications to the tune of €350 million over the next 3 years.
