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PPF Telecom Asset Sale Faces EU Probe; Credit Negative

COMMUNICATIONS


  • BBG reports that Emirates Telco Group’s EUR 2.2bn acquisition of PPF Telecom assets faces EU's first in-depth merger probe under the EU’s new Foreign Subsidies Regulations.
  • The EU today indicated it has sufficient indications of state subsidies to launch an in-depth prove into the transaction.
  • EU decision by October 15 on blocking or approving the deal with concessions.
  • PPF EUR 26s/27s are 4-5bps wider on the day having moved cheaper on the headlines.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

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