By Manny Pham
Bulgaria’s competition watchdog approved e&’s (Etisalat) acquisition of Yettel Bulgaria and infrastructure provider Cetin Bulgaria from PPF Group, taking the Abu Dhabi-based operator group one step further into its European ambitions.
The Bulgarian Commission on Protection of Competition (CPC) stated the transaction will not significantly impact competition in Bulgaria, including the network infrastructure and mobile services sectors.
The CPC added the deal would not lead to overlap on any Bulgarian markets in which e& and PPF groups operate.
e& is working on its strategy to expand its international reach and diversify its operations through acquiring assets in Europe. The UAE-based operator group recently acquired significant shares in Vodafone Group.
PPF Group agreed to sell 50% plus one share in its telecom assets in Bulgaria, Hungary, Serbia and Slovakia to Etisalat by e& for up to €2.5 billion (US$2.7 billion).
