EU launches anti-subsidy probe into e&'s acquisition of PPF Telecom Group assets under new rules.
The European Union has launched a formal anti-subsidy probe into Abu Dhabi's Emirates Telecommunications Group Co (e&), the first under new rules focusing on a foreign bid to buy EU assets. The company signed an €2.2bn ($2.4bn) agreement in August 2023 to purchase Czech PPF Telecom Group's assets in Bulgaria, Hungary, Serbia and Slovakia. The EU Commission has said that a preliminary probe indicates "sufficient indications that e& has received foreign subsidies distorting the EU internal market".
June 10, 2024
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