White & Case has advised PPF Group on an in-depth merger investigation under the EU Foreign Subsidies Regulation.
According to White & Case, “the investigation led to the issuance of the first in-depth conditional merger clearance under the new legal instrument. This landmark decision, in which the European Commission tested how it will apply FSR in merger cases, involved the sale of a 50% plus one share stake in PPF Telecom Group's assets in Bulgaria, Hungary, Serbia, and Slovakia to Emirates Telecommunications Group Company PJSC and the setting-up of a joint venture between PPF Group and e& to manage the assets. The European Commission conditionally approved the acquisition of parts of PPF Telecom.”
The White & Case team included Partner Ivo Janda and Counsel Magda Olysarova as well as further team members in London and Brussels.
