PHOTO
Mobile operator O2 Slovakia, owned by e& PPF Telecom Group BV, a subsidiary of the UAE’s Emirates Telecommunications Group Company PJSC (e&), has signed a binding agreement with the London-based Liberty Global to acquire 100% of UPC Broadband Slovakia for 95 million euros ($111 million), on a cash-free, debt-free basis.
E& said the acquisition will strengthen O2 Slovakia’s market position, while enhancing e& PPF Telecom group’s competitive positioning.
The UAE telecom group is also looking at this move to expand its operations in Central and Eastern Europe, along with diversifying its revenue streams in euro-linked markets.
UPC Broadband Slovakia is a fixed broadband operator serving close to 170,000 customers and generating around €47 million in annual revenue.
The acquisition is subject to customary closing adjustments and will be financed through a mix of cash and debt at e& PPF Telecom level.
(Writing by Farah Heiba; Editing by Bindu Rai)
