Unit of UAE’s e& to buy Slovakian broadband operator
- To buy all of UPC Broadband Slovakia
- Acquisition priced at $112m
- UPC Slovakia has 170,000 customers
A subsidiary of UAE telecoms operator e&, formerly known as Etisalat, has signed a binding agreement to acquire 100 percent of UPC Broadband Slovakia.
Mobile operator O2 Slovakia, part of e& PPF Telecom Group BV, will acquire the company from British-Dutch-US telecom operator Liberty Global for €95 million ($112 million), Abu Dhabi-listed e& said in a statement.
In October 2024 e& completed the acquisition of a controlling stake in PPF Group’s telecoms business across four European countries — Bulgaria, Hungary, Serbia and Slovakia.
UPC Slovakia is a fixed broadband operator serving 170,000 customers and generating around €47 million in annual revenue. Its network covers 647,000 homes across 80 cities.
These assets will provide O2 Slovakia with a nationwide fixed broadband footprint, the statement said.
The acquisition aligns with e&’s plan to expand its international business in central and eastern Europe, enhance revenue diversification in stable EU-linked markets, and strengthen e& PPF Telecom operations.
The deal is subject to closing conditions and will be financed through a mix of cash and debt at e& PPF Telecom level.
Further reading:
- Good, but could be better: Telecoms giants rely on local lines
- Gulf’s push for 6G networks comes too soon, telecoms experts say
- Lack of subsea cable capacity hinders Middle East
Upon completion, UPC Slovakia’s financials will be consolidated into e& PPF Telecom’s financials. The overall impact on e&’s consolidated financials is expected to be immaterial, the statement said.
In February, e& PPF Telecom agreed to acquire 100 percent of SBB d.o.o. Serbia, a cable television and broadband internet service company, for €825 million.
E& owns a 14.6 percent stake in London-listed Vodafone.
The UAE telco’s shares closed 1.2 percent lower at AED18.06 on Wednesday but are up 11 percent year-to-date.
You May Also Like
Leonardo AI Unveils Comprehensive Image Editing Suite with Six Model Options
RBA warns high and rising risk of severe shock to world economy amid Iran war
