Majority owner of Yettel officially Etisalat from Abu Dhabi – Transaction worth EUR 2.15 billion

PPF Group, of which the telecommunications operator Yettel is a member, has successfully completed the process of the previously announced sale of more than 50% of the shares of its companies in Serbia, Bulgaria, Hungary and Slovakia. The new majority owner is Emirates Telecommunication Group Company (“e&”) from Abu Dhabi. The transaction is worth EUR 2.15 billion.

With the sale of the shares, a new company, Etisalat Telecom, has been formed, as said, with the aim of positioning itself as the biggest operator in central and eastern Europe.

The forming of this partnership was agreed in August 2023. The partnership does not encompass the operations of PPF Group in the Czech Republic.

Emirates Telecommunication Group Company, also known as Etisalat (e&) is one of the leading companies in the field of telecommunications in its region and the 18th biggest operator in the world when it comes to the income and the number of subscribers.

It is the sixth biggest company in the Middle East and it operates in the market of East Asia, the Middle East and Africa.

The company was first founded as a JSC between the British company International Aeradio Limited and local partners.

In 1983, the ownership structure changed – the Government of the United Arab Emirates (UAE) had a 60% stake, and the remaining 40% was publicly traded.

Yettel d.o.o. Beograd

PPF

Yettel

Emirates Telecommunication Group Company

Etisalat Telecom

sale of Yettel