Negotiations About Sale of Share in Yettel’s Business in Serbia, Bulgaria, Hungary and Slovakia in Progress

According to a report from Capital.bg, Netherlands-registered, Czech-based conglomerate PPF Group is holding talks with UAE telecoms group e& (formerly Etisalat Group) over plans for the latter to acquire a stake in its Eastern European business Yettel.

Capital.bg claims that negotiations between PPF and e& began several weeks ago, with talks said to focus on a share purchase in Yettel’s telecom business in Bulgaria, Serbia, Hungary and Slovakia.

The parties seek to make a decision on a potential deal by the end of the summer and while no details have been disclosed the online portal cites unnamed sources as claiming that the sale of at least 25% stakes in Yettel and PPF’s infrastructure unit CETIN are being discussed, as reported on commsupdate.com.

PPF is likely to remain a shareholder, it suggests, meaning that operational management could also be retained.

– PPF Group and Emirates Telecommunications Group (e&) are in the early stages of negotiations to form a potential partnership to explore various opportunities for strategic cooperation in Central and Eastern Europe (excluding the Czech Republic) that are mutually beneficial benefit for both business groups – Leos Ruzek, communications director of PPF, confirmed.

PPF Group N.V. Netherlands

Yettel d.o.o. Beograd

PPF Group

e&

Emirates Telecommunications Group

Etisalat Group

Yettel

CETIN

Leos Ruzek

sale of Yettel

sale of share in Yettel