Expanded footprint now gives the operator group a presence in 38 countries as it promises to “transform the telecom landscape in the central and eastern Europe”
e& has closed the acquisition of a controlling stake in PPF Telecom Group’s operations in Bulgaria, Hungary, Serbia and Slovakia. It now owns 50% plus one economic share in those opcos.
The €2.2 billion transaction was announced in August last year. For a while it seemed possible that the European Commission might prevent the acquisition on the grounds that e& may have been granted foreign subsidies that could distort the EU internal market.
In a press statement, e& said of the completed deal, “This acquisition marks a significant step in e&’s ongoing global expansion ambitions, diversifying and growing its geographical presence to 38 countries.
“This milestone is poised to transform the telecom landscape in the central and eastern Europe (CEE) region and deliver enhanced value to over 10 million customers across the four markets. The partnership will provide them access to cutting-edge technologies, expanded product offerings, and innovative digital services to accelerate digital growth and empower businesses and communities alike.”
e& says the deal will enable it to “leverage synergies in network operations, procurement and customer service, driving increased operational efficiency and unlocking new opportunities for growth, innovation and enhanced customer experiences across the region.”
And added, “e&’s expertise in digital services, AI and IoT will further enhance PPF Telecom’s offerings, ensuring a seamless transition and continued access to best-in-class services. Customers will benefit from an expanded portfolio of world-class products and services, including advanced B2B and IoT solutions.”