Emirates Telecom's €2.2 Billion PPF Deal at Risk in EU Probe.

Emirates Telecommunications Group's €2.2 billion acquisition of PPF Telecom Group assets is facing an in-depth merger probe by the European Union (EU) due to concerns over state subsidies. The EU believes that these subsidies may have allowed Emirates Telecom to outbid competitors in the acquisition of PPF's telecoms businesses in Bulgaria, Hungary, Serbia, and Slovakia. This investigation is the first to use the EU's new rules on foreign subsidies to examine a potentially harmful takeover. EU regulators have until October 15 to decide whether to prohibit the deal or accept concessions and approve it. [Extracted from the article]