PPF reported to be negotiating sale of Yettel with Etisalat

Yettel znak

The Czech PPF is reported to be negotiating with the Emirates Telecommunications Group Company (Etisalat) on the partial sale of the Yettel mobile services company in Bulgaria, Serbia and Hungary, the Sofia-based Kapital weekly said.

The Etisalat portal lists Yettel as one of its roaming partners. Kapital said that it was told of the negotiations which started a few weeks ago by several different sources. The deal would include CETIN and its infrastructure

“PPF Group and the Emirates Telecommunications Group are in the early stages of negotiations to form a partnership to explore strategic cooperation opportunities in central and eastern Europe (not including Czechia) which are mutually beneficial,” Kapital said it was told by PPF’s Leos Ruzek. Kapital said the Emirates-based company would buy at least a 25 percent share of Yettel and CETIN with PPF probably keeping some shares.

If the deal goes through, this would be Etisalat’s first investment in Europe.