& E Emirati denies its intention to acquire the European Eastern Telecom Company

The UAE “& E” group (Emirates Telecom Company) has denied that it is studying a possible acquisition from the European Eastern Telecom Company “United Group BV”, as part of its attempt to expand further outside its local market. “& E”, Thursday morning at the Abu Dhabi Securities Market website, made the: “Comments on the media reports spread over a possible acquisition by the end group on the origin of the United Group group, and the end group confirmed that it did not form any form of negotiations or agreements in this regard.” The UAE Bloomberg: The UAE “& e” Study the acquisition of “United Group” communication was “Bloomberg” in a report two days ago that “& e” studied a possible acquisition from “United Group”, according to people who are familiar with the case, which indicates that the company, based in Abu Dhabi, was assessed to a possible purchase of the Eastern Telecom Company to judge. Added that BC Partners, the owner of the special shares of United Group, could possibly get an evaluation of the latter of about 8 billion euros ($ 8.6 billion). & E announced yesterday that it achieved 2.33 billion dirhams during the first quarter of this year, without the estimates of analysts expecting the profits to reach 2.58 billion dirhams. These profits stem from the total revenue of 14.21 billion dirhams, which exceeded analyst estimates, which expected 13.67 billion dirhams. In its announcement, the group indicated that its revenue compared to 9.3% last year increased by 9.3%, while profits rose 6.5% compared to the same period.