UAE-based operator e& denied a Bloomberg report claiming the company was in discussions to buy United Group.
In a stock exchange disclosure, signed by e& group CFO Karim Bennis, e& said that despite dismissing the deal, “consistent with our corporate strategy, e& continually reviews relevant market opportunities with the objectives of maximizing shareholder value.”
United Group’s Eastern European footprint was reportedly earmarked for around €8 billion. The original report claimed a formal sale would have commenced next month and that it could have even been sold to multiple buyers.
United Group sold its mobile tower infrastructure unit TowerCo to a subsidiary of Saud Arabia-based STC Group in 2023. Like other operators globally, the Eastern European operator made the sale to raise cash for debts and capex intensive new technologies such as 5G.
