e& is the new majority owner of Slovak mobile phone operator O2

Abu Dhabi-based Emirates Telecommunication Group, operating under the e& brand, is the new majority owner of Slovak mobile phone operator O2. It is buying 50% plus one share in the assets of the Czech PPF Telecom Group (Renáta Kellnerová) in Slovakia, Bulgaria, Hungary and Serbia for €2.15bn. The deal is expected to be finalized next year. Czech firms O2 Czech Republic and CETIN are not part of the deal, PPF remains their sole owner.

PPF acquired the Slovak and Czech O2 in 2013 from Spanish firm Telefónica. In Slovakia, O2 reported €324m sales last year.

(zive.sk)