EU assessing deal by UAE’s e& for PPF over alleged subsidies

BRUSSELS, June 10 (Reuters) – UAE telecoms group e&’s (EAND.AD), opens new tab bid for parts of Czech telecoms company PPF’s assets will be investigated on concerns it may be benefiting from distortive foreign subsidies, EU competition regulators said on Monday.

The deal would see e&, formerly called Etisalat, acquire sole control of PPF Telecom excluding its Czech business.

The examination of the acquisition is the first by the European Commission under the bloc’s Foreign Subsidies Regulation which allows the watchdog to crack down on unfair foreign state support to their companies.