Emirates Telecommunications Group Firm (e&) has obtained approval from the European Fee (EC) to finish its beforehand introduced acquisition of a controlling stake (50 p.c + 1 financial share) within the belongings of Czech-based PPF Telecom in Bulgaria, Hungary, Serbia, and Slovakia (PPF Telecom Group), as per an change submitting on September 24, 2024.
Additionally Learn: e& Publicizes Majority Stake Acquisition in PPF Telecom for CEE Growth
EU Approval
The EC has permitted e&’s acquisition of sole management of PPF Telecom Group, excluding its Czech enterprise, contingent upon the events totally complying with particular circumstances for not less than ten years, in line with experiences.
This approval concludes the investigation underneath the International Subsidies Regulation into whether or not state subsidies to e& could have distorted the EU inner market when it acquired the Yettel-branded enterprise final 12 months.
In an change submitting, Etisalat and (e&) stated, “All regulatory approvals have now been obtained. The closing of the transaction stays topic to customary closing closing circumstances.”
Additionally Learn: e& and PPF Group Provoke Talks for Potential Partnership
e& and PPF Group Settlement
On August 1 of final 12 months, e& introduced the signing of a binding settlement with PPF Group (PPF) to amass a controlling stake (50 p.c + 1 financial share) in PPF Telecom’s belongings in Bulgaria, Hungary, Serbia, and Slovakia.
