E& PPF Telecom Group

e& PPF Telecom Group
TypePrivate
IndustryTelecommunications
Founded16 October 2013 (2013-10-16)
Headquarters
Amsterdam
,
Netherlands
Area served
Key peopleBalesh Sharma (CEO)
Products
Revenue€2.413 billion (2025)[1]
€382 million (2025)[2]
Owner
Number of employees
9,100 (2025)
Websitewww.eandppftelecom.eu

e& PPF Telecom Group B.V. is a telecommunications holding company headquartered in Amsterdam, Netherlands, with operations in Bulgaria, Hungary, Serbia and Slovakia.[3] It is controlled by Emirati telecommunications group e&, which owns 50% plus one share, while PPF Group owns the rest.[4][3] The group provides telecommunications services through Yettel in Bulgaria, Hungary and Serbia and through O2 in Slovakia, while its telecommunications infrastructure businesses operate under the CETIN brand.[5]

The company was incorporated in 2013 was named PPF Telecom Group B.V. since 2020.[6] It assumed its current ownership structure and name in October 2024, when e& acquired a controlling stake in PPF's telecommunications businesses in Bulgaria, Hungary, Serbia and Slovakia.[7] PPF's Czech telecommunications businesses, including O2 Czech Republic and CETIN Czechia, were excluded from the transaction and remained with PPF.[8]

History

PPF Telecom Group

PPF Telecom Group was formed after PPF Group acquired Telenor's telecommunications businesses in Bulgaria, Hungary, Montenegro and Serbia in 2018.[9] The acquisition expanded PPF's existing telecommunications operations in the Czech Republic and Slovakia into a regional group.[10] In 2021, the group sold its Montenegrin business to Hungarian telecommunications company 4iG.[9]

Acquisition by e&

In August 2023, PPF agreed to sell 50% plus one share of the group's businesses in Bulgaria, Hungary, Serbia and Slovakia to Emirati telecommunications group e& for an initial consideration of €2.15 billion. PPF's Czech telecommunications businesses, including O2 Czech Republic and CETIN Czechia, were excluded from the transaction.[11]

The European Commission opened an in-depth investigation into the acquisition in June 2024 under the EU Foreign Subsidies Regulation. It found that subsidies received by e& had not distorted the acquisition process, but could distort competition after the transaction. The Commission approved the acquisition in September 2024 subject to commitments concerning state guarantees and financing.[12]

The transaction was completed on 24 October 2024. e& became the controlling shareholder with 50% plus one share, while PPF retained 50% minus one share. The group was renamed e& PPF Telecom Group.[13]

Expansion

The group subsequently expanded its fixed-broadband operations. In April 2025, it acquired Serbian broadband and television provider SBB from United Group for €825 million.[14] SBB was merged into Yettel Serbia in April 2026.[15]

Later that month, O2 Slovakia acquired UPC Broadband Slovakia, further expanding the group's fixed-broadband and television business in Slovakia.[15][16]

Operations

e& PPF Telecom Group operates in Bulgaria, Hungary, Serbia and Slovakia. They provide mobile and fixed broadband services, television and business connectivity.[17]

The group's network infrastructure businesses operate under the CETIN brand and provide wholesale telecommunications services.[17]

Country Retail operator Network infrastructure
Bulgaria Yettel Bulgaria CETIN Bulgaria
Hungary Yettel Hungary CETIN Hungary
Serbia Yettel Serbia CETIN Serbia
Slovakia O2 Slovakia CETIN Networks

References

  1. ↑ "Key financial data". e& PPF Telecom Group. Retrieved 30 August 2026.
  2. ↑ Annual accounts 2025 (PDF) (Report). e& PPF Telecom Group B.V. 17 February 2026. Retrieved 30 August 2026.
  3. 1 2 Annual accounts 2025 (PDF) (Report). e& PPF Telecom Group B.V. 17 February 2026. p. 2. Retrieved 30 August 2026.
  4. ↑ "Commission Decision of 24 September 2024 – e&/PPF Telecom Group". EUR-Lex. European Commission. 24 September 2024. Retrieved 30 August 2026.
  5. ↑ Integrated Annual Report 2025 (PDF) (Report). e&. 2026. Retrieved 30 August 2026.
  6. ↑ Connecting with a Sustainable Future: Sustainability Report 2021 (PDF) (Report). PPF Telecom Group B.V. 2022. Retrieved 30 August 2026.
  7. ↑ "e& becomes PPF Telecom Group's controlling shareholder, name changes to e& PPF Telecom Group" (PDF). e& PPF Telecom Group B.V. 24 October 2024. Retrieved 30 August 2026.
  8. ↑ "PPF closes a major transaction and forms a partnership with e&, a global technology group". PPF Group. 24 October 2024. Retrieved 30 August 2026.
  9. 1 2 "Facts and strategies – History". PPF Group. Retrieved 30 August 2026.
  10. ↑ "PPF Telecom Group Sells Telenor Montenegro to 4iG". PPF Group. 27 October 2021. Retrieved 30 August 2026.
  11. ↑ "PPF announces partnership with global technology group e&". PPF Group. 1 August 2023. Retrieved 30 August 2026.
  12. ↑ "Commission Decision of 24 September 2024 – e&/PPF Telecom Group". EUR-Lex. European Commission. 24 September 2024. Retrieved 30 August 2026.
  13. ↑ "PPF closes a major transaction and forms a partnership with e&, a global technology group". PPF Group. 24 October 2024. Retrieved 30 August 2026.
  14. ↑ "e& PPF Telecom successfully completes the acquisition of SBB d.o.o. Serbia" (PDF). e&. 2 April 2025. Retrieved 30 August 2026.
  15. 1 2 "History". e& PPF Telecom Group. Retrieved 30 August 2026.
  16. ↑ "KONCENTRÁCIE: PMÚ schválil koncentráciu v oblasti telekomunikácií" (in Slovak). Antimonopoly Office of the Slovak Republic. 30 April 2026. Retrieved 30 August 2026.
  17. 1 2 "e& PPF Telecom Group". PPF Group. Retrieved 30 August 2026.
This page is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.