European Commission approves UAE’s e& acquisition of PPF Telecom activities

The European Commission (EC) has granted approval for the Emirates Telecommunications Group, known as e&, to acquire a portion of PPF Telecom Group’s telecommunications operations in several European nations, this announcement yesterday, outlining the assets involved in the transaction, which include operations in Bulgaria, Hungary, Serbia, and Slovakia.

PPF Telecom Group is registered in the Netherlands and also operates in the Czech Republic; however, the Czech activities are not included in this deal with the UAE-based firm. The EC had launched an in-depth investigation into the proposed acquisition back in June, assessing its potential impact on competition within the EU market.

During its investigation, the Commission found that while e& had received foreign subsidies, these did not adversely affect the acquisition process. The approval of the acquisition is contingent upon full compliance with conditions established by the EC to ensure that competition within the European Union remains unhampered.

e& operates under the brand name e& in the telecommunications market and is controlled by the Emirates Investment Authority, a sovereign wealth fund fully owned by the Government of the United Arab Emirates. The EC serves as the EU’s executive body, holding significant authority, including acting as the antitrust authority to safeguard fair competition in the region.