Banking & Finance Etisalat in talks with Czech firm for potential tie-ups By Pramod Kumar July 3, 2023 e& Beehive will be consolidated into e&’s financials as of August 2023 Abu Dhabi-headquartered Etisalat, now branded as e&, is in talks with Czech investment firm PPF Group to explore opportunities in central and southeastern Europe. “Etisalat and PPF Group are in early stage of discussions of forming a potential partnership to explore strategic collaboration opportunities in central and southeastern Europe, excluding Czech Republic, that are mutually beneficial to both groups,” the UAE telco said in a statement published on Abu Dhabi Securities Exchange on Monday. Shares in Etisalat slide after Vodafone’s UK deal Gulf telcos nurse FX losses as foreign expansion sours The UAE telco is also reportedly in talks to buy a stake in PPF’s business in Bulgaria, Bulgarian news website Capital.bg reported on Friday, citing sources. The two companies commenced negotiations some weeks ago and a possible deal is likely be announced at the end of summer, the report said. The two companies are also said to be talks regarding a stake in Yettel, PPF’s telecommunication business in Serbia and Hungary. AGBI last month reported that Etisalat made a paper loss estimated at $2.1 billion on its stake in Vodafone due to a slump in the UK’s Vodafone Group’s share price since mid-2022. The company holds a 14.61 percent stake in Vodafone.
