White & Case advises PPF Group on first-ever in-depth foreign subsidies merger investigation

Global law firm White & Case LLP has advised PPF Group on the first-ever in-depth merger investigation under the EU Foreign Subsidies Regulation (FSR).

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 percent plus one share stake in PPF Telecom Group's assets in Bulgaria, Hungary, Serbia and Slovakia to Emirates Telecommunications Group Company PJSC (e&) 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 by e&.

The White & Case team which advised on the transaction included partners Ivo Janda (Prague) and James Killick (Brussels, London) and counsel Magda Olyšarová (Prague) and Irina Trichkovska (Brussels).

Press contact
For more information please speak to your local media contact.