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

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

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 […]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.  

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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