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Thursday, November 30, 2023

Emirati tech telecoms giant e& strikes ‘potential partnership’ deal with PPF Group in another major European push


DUBAI: On the heels of a strategic alliance with UK-based Vodafone, UAE tech telecom company e& has confirmed it is exploring a possible partnership with PPF Group, a Czech company with interests in financial services and telecommunications.

If the partnership is established, e& and PPF will “explore strategic cooperation opportunities” in central and southeastern Europe, excluding the Czech Republic, according to a statement from e&.

Under its new identity, e& (formerly Etisalat Group) is building a wider network of investment and growth possibilities. Presence in Europe really represents these opportunities, especially when working with strong partners.

In its trade with vodafone, the UAE company clearly specifies the region of interest. By the way, E& is Vodafone’s largest shareholder and has gradually increased its stake since May 2022. Opportunities for expansion/consolidation are emerging across Europe, analysts said.

In addition to the domestic market, PPF Group operates in 25 countries in Europe, North America, Asia and Africa. Core businesses include financial services, telecommunications, media and e-commerce.

e&, which has been on an investment spree across categories in recent months, is expected to report another strong set of first-half 2023 financials in the coming weeks.


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