e& gets the all-clear for acquisition of stakes in two Bulgarian telcos: Mobile operator Etisalat bye& is set to snap up a majority stake in Bulgarian mobile operator Yettel Bulgaria and telecoms infrastructure provider Cetin Bulgaria from Czech investment firm PPF Group. Bulgaria’s Competition Protection Commission greenlit the acquisition on Sunday, SeeNews reports (more here and here, the latter in Bulgarian).

Background: Etisalat by e& agreed in August 2023 to purchase a 50% plus one share in PPF Group’s telecoms units in Bulgaria, Hungary, Serbia, and Slovakia for EUR 2.5 bn (AED 9.9 bn).

Disclaimer: It’s not clear whether the entire EUR 2.5 bn transaction is now set to go through, with no reports of approvals from regulators in Hungary, Serbia, and Slovakia. The acquisition was expected to close before 1Q 2024.

The acquisitions will allow e& to expand its customer base and “establish a major telecommunications presence in Central and Eastern Europe,” e& CEO Hatem Dowidar said in August.

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