UAE-based e& to acquire UPC Broadband expands its European footprint. O2 Slovakia, part of UAE-based e& to acquire UPC Broadband through the e& PPF Telecom Group joint venture, signs a binding agreement with Liberty Global.
Deal Value
UAE-based e& to acquire UPC Broadband values the target at EUR95 million on a cash-free, debt-free basis. The deal, announced in December, 2025, gives O2 Slovakia full 100 percent ownership of UPC Broadband Slovakia. It awaits clearance from local regulators and includes standard closing adjustments.
Liberty Global sells this fixed-line operator, which provides TV, broadband internet, and telephony services. The company reaches over 600,000 households in 80 cities across Slovakia. This sale lets Liberty Global focus on its core markets elsewhere.
Network Reach
UPC Broadband Slovakia operates a strong hybrid fiber-coaxial (HFC) network. It offers download speeds up to 2.5 Gbps, one of the fastest in the region. The infrastructure passes around 647,000 homes, giving wide coverage.
The business reports annual revenue of about EUR47 million. It maintains a solid 30 percent EBITDA margin, showing good profitability. Currently, it serves roughly 170,000 active customers who depend on reliable connections for work, entertainment, and daily needs.
O2 Slovakia, known mainly for mobile services, lacked strong fixed broadband presence. This acquisition plugs that gap and builds a nationwide network.
Growth Plan
O2 Slovakia aims to combine UPC’s fixed assets with its mobile operations. Customers get a single provider for all telecom needs, from calls and data to high-speed home internet and TV. This setup reduces duplicate efforts and lowers operating costs.
In Slovakia’s competitive market, where players fight for market share, the move boosts efficiency. It lifts customer lifetime value through better retention and upselling. e& PPF Telecom Group, where e& holds 50 percent plus one share, drives this strategy.
The group seeks more scale in Central and Eastern Europe. These areas offer growth potential and euro-based revenues, which shield against currency swings.
Funding and Close
e& covers the EUR95 million cost with cash reserves and debt raised at the e& PPF Telecom level. The company disclosed this in a filing to the Abu Dhabi Securities Exchange. UPC Broadband’s results will fold into e& PPF Telecom’s financials once the deal closes.
Analysts note the price tags the asset at about seven times its projected 2025 adjusted EBITDA. This seems fair for a high-quality network with growth room. Regulators review it for competition effects, but no big hurdles appear likely.
Bigger Picture
The purchase fits e&’s global push beyond the Middle East. As a UAE telecom giant, e& builds a diverse portfolio in stable European markets. O2 Slovakia gains instant scale without years of network rollout.
Liberty Global streamlines its holdings by exiting Slovakia. UPC customers benefit from O2’s mobile expertise and larger resources. The deal could spark faster upgrades, like more fiber and 5G fixed wireless options.
Slovakia’s telecom sector sees more consolidation. Demand rises for bundled services as homes go digital. This step positions O2 as a top converged player, ready for future tech like AI-driven networks and IoT.
