Abu Dhabi – Mubasher: e& received the European Commission’s (EC) approval to complete the acquisition of a controlling stake in PPF Telecom’s assets in Bulgaria, Hungary, Serbia, and Slovakia.
The ADX-listed company planned to acquire a 50% shareholding in PPF Telecom Group, according to a press release.
This marks the conclusion of e&’s dialogue with the Commission’s Foreign Subsidies Directorate that enabled the EC to grant Foreign Subsidies Regulation (FSR) approval of the transaction on an accelerated basis.
All the regulatory approvals have now been obtained, while the closing of the transaction remains subject to customary remaining closing terms.
In 2023, the two telecom groups partnered to expand operations in central and southeastern Europe.
