Al Ansari Financial Services has completed its $200 million acquisition of BFC Group Holdings, expanding its market leadership in the Gulf region. The acquisition increases its customer base by 29% and branch network by 60%, while enhancing its digital and AI capabilities to further strengthen its position in financial services.
e& PPF Telecom has acquired a 100% stake in Serbia Broadband (SBB) for EUR 825 million ($891 million), funded through secured debt. The acquisition expands e&’s footprint in Central and Eastern Europe, diversifying revenue sources, and will see the integration of SBB with its Serbian mobile subsidiary, Yettel.
e& reported a Dh5.5 billion revenue increase, reaching Dh59.2 billion for 2024, driven by strong growth in its telecom and digital sectors. The company also posted a 4.3% profit rise to Dh10.7 billion and confirmed an 825 million euro acquisition of a Serbian broadband and cable TV provider.
e& PPF Telecom has acquired SBB’s operations in Serbia for €825 million, focusing on cable TV and broadband services. The acquisition strengthens e&’s European expansion strategy, adding to its Yettel brand. Meanwhile, United Group retains its media assets and refocuses on EU markets for growth.
Power International Holding has acquired a 100% stake in Mobile Telecom-Service (MTS) from Kazakhtelecom, enhancing its position in Kazakhstan’s growing telecom sector. The acquisition includes prominent brands Altel and Tele2, reinforcing MTS’s role in providing 5G connectivity and digital services in the country.
