Dubai-based tech-telco giant e& has successfully obtained the necessary regulatory approval from the European Commission to acquire a controlling stake in PPF Telecom. This approval enables e& to take over 50% plus one economic share of PPF Telecom’s operations across Bulgaria, Hungary, Serbia, and Slovakia.
The approval by the European Commission was finalized nearly three months earlier than the mandated deadline, highlighting the effectiveness of e&’s thorough discussions with the Commission’s Foreign Subsidies Directorate. This early clearance demonstrates the Commission’s confidence in the alignment of e&’s Articles of Association with standard UAE bankruptcy laws and its commitment to meet specific financial stipulations. These include restrictions on direct financial support to PPF Telecom’s EU operations, with defined exceptions, and obligations for e& to report certain future acquisitions directly to the European Commission.
e& described these conditions as “proportionate and manageable,” which will facilitate a smooth integration into the PPF Telecom Group. With all regulatory hurdles now cleared, e& is poised to expand its presence and influence across the European telecommunications landscape.
