e& and PPF Group (“PPF”) today announced the successful completion of a landmark partnership, with e& acquiring a controlling stake (50% plus one economic share) in the service and infrastructure companies of PPF Telecom Group (“PPF Telecom”) across Bulgaria, Hungary, Serbia, and Slovakia. This acquisition represents a significant step in e&’s global expansion strategy, increasing its geographical footprint to 38 countries.
This milestone is set to transform the telecom landscape in Central and Eastern Europe (CEE), enhancing value for over 10 million customers across these four markets. The partnership will provide access to advanced technologies, expanded product offerings, and innovative digital services to drive digital growth and empower businesses and communities.
The conclusion of this transaction is a major advancement for both e& and PPF Telecom. By leveraging e&’s global scale, extensive sector expertise, and digital capabilities alongside PPF Telecom’s regional knowledge and operational excellence, the partnership is poised to accelerate growth and open new avenues for advanced digital services, IoT solutions, and enhanced B2B offerings.
Hatem Dowidar, Group CEO of e&, remarked, “This partnership is a pivotal moment in e&’s journey, extending our telecom footprint to 20 countries and our overall operations to 38 across the Middle East, Asia, Africa, and now Central and Eastern Europe. PPF Telecom’s regional expertise combined with our global capabilities creates a robust platform for growth and innovation. We are dedicated to delivering enhanced value through cutting-edge digital services.”
Khalifa Al Shamsi, CEO of e& International, expressed excitement about welcoming the PPF Telecom team to e&. He noted that the partnership presents tremendous opportunities for sharing ideas, best practices, and innovative solutions while strengthening their ability to provide reliable telecom services and cutting-edge technology to millions of new customers.
PPF Telecom distinguishes itself with a unique asset separation model, allowing for greater focus and specialization, which can lead to performance enhancements and value creation in both infrastructure and services. This model will enable the partnership to optimize resource allocation and improve overall efficiency.
Jiří Šmejc, CEO of PPF, welcomed e& as a partner, emphasizing the creation of a platform to drive value in fast-growing telecom markets. He highlighted that the partnership attests to the quality of PPF’s industry expertise and local knowledge, while PPF’s teams will gain from e&’s global scale and technological know-how.
Under the partnership agreement, Balesh Sharma, CEO of PPF Telecom, and his management team will retain their roles to ensure operational continuity while drawing from the expertise of PPF Telecom’s teams in their respective markets. Sharma noted that this partnership will enhance services for customers, including improved access to the e& suite of products and better international roaming offers.
The collaboration will leverage synergies in network operations, procurement, and customer service, driving operational efficiency and unlocking new growth opportunities, innovation, and enhanced customer experiences. e&’s expertise in digital services, AI, and IoT will further enhance PPF Telecom’s offerings, ensuring a smooth transition and continued access to high-quality services.
This partnership will also benefit employees of both e& and PPF Telecom, unlocking new opportunities for career growth, cross-continental learning, and integration into a global talent network. The newly formed entity, e& PPF Telecom, will operate independently, maintaining its current management team and workforce.
About e&
e& is a global technology group committed to advancing the digital future across the Middle East, Asia, Africa, and Europe. With a consolidated net revenue of AED 53.8 billion and a net profit of AED 10.3 billion in 2023, e& continues to solidify its position as a financial powerhouse, backed by a strong credit rating and solid balance sheet.
Founded in Abu Dhabi over 48 years ago, e& has evolved from a telecom pioneer into a comprehensive technology group. Its footprint spans 38 countries, offering a wide array of innovative digital services ranging from advanced connectivity, entertainment, and streaming to AI-powered solutions, cloud computing, cybersecurity, and IoT platforms.
The Group operates under five core business pillars: e& UAE, e& international, e& life, e& enterprise, and e& capital, each catering to distinct customer and market needs. Ongoing strategic investments in AI, IoT, 5G, and cloud services reinforce its leadership in the global technology landscape, driving the future of smart connectivity and innovation.
With a focus on innovation, sustainability, and digital empowerment, e& is dedicated to creating a smarter, more connected future for individuals, businesses, and communities.
To learn more about e&, visit eand.com.
