A subsidiary of UAE telecoms operator e&, formerly known as Etisalat, has signed a binding agreement to acquire 100 percent of UPC Broadband Slovakia. Mobile operatorA subsidiary of UAE telecoms operator e&, formerly known as Etisalat, has signed a binding agreement to acquire 100 percent of UPC Broadband Slovakia. Mobile operator

Unit of UAE’s e& to buy Slovakian broadband operator

2025/12/18 16:12
2 min read
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  • To buy all of UPC Broadband Slovakia
  • Acquisition priced at $112m
  • UPC Slovakia has 170,000 customers

A subsidiary of UAE telecoms operator e&, formerly known as Etisalat, has signed a binding agreement to acquire 100 percent of UPC Broadband Slovakia.

Mobile operator O2 Slovakia, part of e& PPF Telecom Group BV, will acquire the company from British-Dutch-US telecom operator Liberty Global for €95 million ($112 million), Abu Dhabi-listed e& said in a statement.

In October 2024 e& completed the acquisition of a controlling stake in PPF Group’s telecoms business across four European countries — Bulgaria, Hungary, Serbia and Slovakia.

UPC Slovakia is a fixed broadband operator serving 170,000 customers and generating around €47 million in annual revenue. Its network covers 647,000 homes across 80 cities.

These assets will provide O2 Slovakia with a nationwide fixed broadband footprint, the statement said.

The acquisition aligns with e&’s plan to expand its international business in central and eastern Europe, enhance revenue diversification in stable EU-linked markets, and strengthen e& PPF Telecom operations.

The deal is subject to closing conditions and will be financed through a mix of cash and debt at e& PPF Telecom level.

Further reading:

  • Good, but could be better: Telecoms giants rely on local lines
  • Gulf’s push for 6G networks comes too soon, telecoms experts say
  • Lack of subsea cable capacity hinders Middle East

Upon completion, UPC Slovakia’s financials will be consolidated into e& PPF Telecom’s financials. The overall impact on e&’s consolidated financials is expected to be immaterial, the statement said.

In February, e& PPF Telecom agreed to acquire 100 percent of SBB d.o.o. Serbia, a cable television and broadband internet service company, for €825 million.

E& owns a 14.6 percent stake in London-listed Vodafone.  

The UAE telco’s shares closed 1.2 percent lower at AED18.06 on Wednesday but are up 11 percent year-to-date.

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