e&'s Acquisition Strategy Boosts its Presence and Growth in the Telecoms Industry

 

Abu Dhabi-based e& has been expanding its presence and increasing its market share through strategic acquisitions and investments, enabling it to offer innovative business solutions and the latest technologies to the communities it serves.


e&'s latest financial results showed a 6% annual growth in its UAE subscriber base to 13.9 million, while aggregate subscribers rose 3% annually to 164 million. Moreover, the company reported a net profit of Dh2.19 billion ($599 million) in the first quarter of 2023, despite a 10% drop from the previous year due to fluctuations in currency exchange rates and high inflation rates in the Egyptian and Pakistani markets.


To drive growth and expand its consumer digital offerings, e& signed a $400 million deal last month to acquire a majority stake in Careem’s Super App spin-off from Uber. This move will enable e& to enhance its digital experiences and maximize value creation for its shareholders, while positively impacting businesses and people's lives.



e& also signed a deal last year with Abu Dhabi holding company ADQ to acquire a majority stake in video-streaming service Starzplay Arabia. The acquisition strategy has enabled e& to diversify its business portfolio and become a leading telecoms and technology company in the Middle East and beyond.


Furthermore, e& has increased its stake in Vodafone Group to 14% this year, as part of its international expansion plans. The company's presence and growth in the telecoms industry demonstrate its commitment to exploring future technologies and developing new verticals that will accelerate digital transformation and positively impact businesses and people's

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