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Wednesday, May 22, 2024
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UAE’s e& acquires PPF Telecom, expanding in Central & East Europe

e& (previously known as Etisalat) acquires controlling stake in PPF Telecom Group’s assets in Bulgaria, Hungary, Serbia, and Slovakia. The acquisition, valued at €2,150 million (Dh8.66 billion), includes Yettel Bulgaria, Yettel Hungary, Yettel Serbia, and O2 Slovakia operations, along with the CETIN and O2 Networks infrastructure businesses in these countries.

The deal is part of e&’s strategic expansion into the European market and will be managed by e& international, their telecom vertical for global markets. The partners aim to achieve synergies and roll out e&’s digital products in Central and Eastern Europe.

The company remains committed to its 2030 net-zero target with energy-efficient initiatives in its UAE operations, reducing CO2 emissions significantly.

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