October 10 (SeeNews) - Abu Dhabi-based Emirates Telecommunications Group Company, known as Etisalat by e&, is seeking approval to acquire indirect control over mobile operator Yettel Bulgaria and telecoms infrastructure provider Cetin Bulgaria from Netherlands-headquartered investment firm PPF Group, the Bulgarian antitrust authority said on Tuesday.
The transaction will consist in Etisalat acquiring direct control over PPF Telecom Group, the Commission on Protection of Competition (CPC) said in a statement.
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The planned concentration is expected to lead to a very limited vertical overlap between the upstream market for the provision of wholesale international roaming services and the downstream market for retail mobile telecommunications services in Bulgaria, CPC said.
PPF Group agreed in August to divest a stake of 50% plus one share in its telecoms assets in Bulgaria, Hungary, Serbia and Slovakia to Etisalat by e& for up to 2.5 billion euro ($2.64 billion) including earnout. The target business served over 10 million clients in the four countries in 2022.
($ = 0.9452 euro)