Emirates Telecom’s €2.2 Billion PPF Deal at Risk in EU Probe
- EU starts investigation into competition impact of deal
- Emirates Telecom could be forced to ditch its M&A plan
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Abu Dhabi’s Emirates Telecommunications Group Co PJSC €2.2 billion ($2.4 billion) acquisition of PPF Telecom Group assets faces the first in-depth merger probe under the European Union’s tough new foreign-subsidy rules.
The European Commission said Monday that it has “sufficient indications” Emirates Telecom — also known as e& — has received state subsidies that could harm fair competition in the 27-nation bloc.