e& and PPF Telecom Group form strategic telecom partnership

e& has formed a strategic joint venture with PPF Telecom Group, with e& acquiring a controlling stake of 50% plus one economic share. This Dutch joint venture will operate telecom service and infrastructure businesses in Bulgaria, Hungary, Serbia and Slovakia. The transaction value is EUR 2.15 billion, with a potential earn-out of up to EUR 350 million.

Houthoff advised e&, together with Sullivan & Cromwell. The Houthoff team, led by Paul de Vries, included Willem Liedenbaum, Jessica Terpstra, Jeroen van Mourik, Eva Luna de Boer, Myrthe Prinsze, Noah Graves and Marijn van Horen.