Skip to content Skip to Search
Skip navigation

Report links e& to acquisition of $8.6bn Dutch telco

e& is not actively pursuing the buyout of the Dutch company United Group, said a company spokesperson e&
e& is not actively pursuing the buyout of the Dutch company United Group, said a company spokesperson

The UAE’s e&, formerly known as Etisalat, is planning to acquire Dutch telecom operator United Group BV as part of its overseas expansion strategy, according to a media report.

The Abu Dhabi-listed company has been evaluating a possible purchase of United Group, Bloomberg reported, citing informed sources.

Private equity firm BC Partners, the current owners of United Group, is seeking a valuation of €8 billion ($8.6 billion), the report said, adding that a formal sale process is expected to commence next month.  



However, a e& spokesperson told Bloomberg that the company is not actively pursuing the buyout of the Netherlands-headquartered company.

United Group operates in Serbia, Croatia, Slovenia, Bosnia & Herzegovina, Montenegro, Bulgaria and Greece, the report said.

Abu Dhabi-headquartered e& last year agreed to buy a controlling stake in PPF Telecom Group’s assets in Bulgaria, Hungary, Serbia and Slovakia. 

The UAE telco also owns a 14.6 percent stake in London-listed Vodafone.  

Last July e& confirmed it was planning to buy a stake in Ethio, a state-controlled operator in Ethiopia.

In August 2023, Saudi Telecom Company’s subsidiary, Tawal, purchased three United Group tower companies in Bulgaria, Croatia and Slovenia for €1.22 billion.

Separately, e& said consolidated net profit rose to AED2.3 billion, up 7 percent year on year, as consolidated revenue reached AED14 billion, up 9 percent annually.

The positive performance was driven by expanding partnerships across its verticals and continuous investments in developing critical infrastructure.

Consolidated Ebitda reached AED 6.4 billion, rising 3 percent year on year, resulting in an Ebitda margin of 45 percent.

Latest articles

Cargo is loaded onto an aeroplane. The Middle East-Europe route accounts for 5% of global traffic

Middle East-Europe is ‘fastest-growing route for air cargo’

The Middle East-Europe route for air cargo was the fastest growing in the world in October, according to International Air Transport Association figures.  Annual growth in cargo tonne-kilometres stood at 15.3 percent in October, IATA said. The global average is 9.8 percent and the Middle East average is 4.5 percent. The Middle East-Europe route has […]

UAE citizens receiving housing aid include the elderly, retirees on lower incomes and widows

Abu Dhabi citizens receive $3.6bn in housing benefits

To coincide with the UAE’s Eid Al Etihad celebrations, thousands of Abu Dhabi citizens have received housing benefit packages worth a total of AED7.72 billion ($2.1 billion). This package, the third awarded this year, brings the total value of housing benefits disbursed to Emiratis during 2024 to AED13.2 billion ($3.6 billion) This week 5,374 Emirati […]

Solar panels near Nanchang, China; Acwa Power wants to acquire clean power assets with a value of up to 20GW

Acwa Power plans to invest $50bn in China by 2030

Saudi energy company Acwa Power plans to invest up to $50 billion in renewable energy projects in China, a senior executive said on Tuesday.  Lyu Yunhe, Acwa Power’s head of China operations, said they aim to work with Chinese state-owned companies to acquire clean power assets with a value of up to 20GW and an additional 1 […]

Turkey inflation rate cut

Rate cut for Turkey in balance as inflation stays high

Despite higher than expected inflation in Turkey in November, the window may remain open for the central bank to cut its key lending rate before the end of this year.  Turkey’s annualised inflation rate fell back to 47.1 percent in November, data issued by the statistics agency Turkstat on December 3 showed, down from October’s […]