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Telecom major e& denies acquiring a stake in United Group

Introduction Of Telecom:

In the dynamic landscape of the United Arab Emirates’ (UAE) telecommunications sector, e& Group, known for its telecom vertical e& UAE (formerly etisalat), stands as a formidable entity. This week, e& UAE garnered prestigious recognition as the Middle East’s strongest brand by Brand Finance. However, amidst this accolade, the company found itself refuting media speculations regarding its purported acquisition of United Group, a significant telecom and media provider in Southeast Europe.


e& Denies Acquisition Rumors:

In response to circulating media reports, e& Group issued a statement categorically denying any ongoing negotiations or agreements regarding the acquisition of United Group BV. Despite affirming its commitment to exploring market opportunities in alignment with its corporate strategy, e& emphasized that no formal discussions had taken place regarding United Group BV’s assets.

e& UAE’s Brand Strength:

Brand Finance’s recognition of e& UAE as the Middle East’s strongest brand underscores the telecom giant’s remarkable journey. With a Brand Strength Index score of 89.4/100 and an AAA rating, e& UAE not only solidifies its position as a regional leader but also claims the title of the world’s strongest telecom brand. This acknowledgment reflects e& UAE’s strategic initiatives, including expansion into new markets through the Partner Market program, strategic acquisitions, and robust communication campaigns.

Financial Performance and Market Dynamics:

Amidst these developments, e& Group reported robust financial results, showcasing a consolidated revenue of Dh14.2 billion, marking a 9% year-over-year growth. Similarly, consolidated net profit surged to Dh2.3 billion, reflecting a 7% year-over-year increase. These figures are indicative of the UAE’s thriving economy post-pandemic, fostering an environment conducive to corporate exploration and growth.

M&A Landscape in the UAE:

The UAE’s buoyant economy has propelled companies towards exploring new avenues for expansion, including inorganic growth through mergers and acquisitions (M&A). Notably, the UAE witnessed significant M&A activity in 2023, with two out of the three highest acquisitions in the Middle East and North Africa region. These included the acquisition of Univar Solutions by Apollo Global Management and Abu Dhabi Investment Authority (Adia) for $8.2 billion and the acquisition of Cvent Holding by Blackstone and ADIA for $4.7 billion, among others.


As e& Group navigates the evolving telecommunications landscape, its denial of acquisition rumors underscores the company’s commitment to strategic decision-making aligned with shareholder value. The recognition of e& UAE as the Middle East’s strongest brand further solidifies its position as a regional leader, poised for continued growth and innovation in the global tech arena. Amidst a backdrop of robust financial performance and a buoyant M&A landscape, e& Group stands as a testament to the UAE’s thriving business ecosystem and its potential for sustained growth and expansion.


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